Nintendo has entered into an agreement to acquire 100 percent of the outstanding shares of Next Level Games in Vancouver, Canada, to make it a wholly owned subsidiary, the company announced. The acquisition is expected to close on March 1.
Next Level Games has developed a number of Nintendo titles in the past, including Super Mario Strikers for GameCube, Mario Strikers charged and Punch-Out !! for Wii, Luigi’s Mansion: Dark Moon and Metroid Prime: Federation Force for 3DS, and Luigi’s Mansion 3 for Switch.
Here is the full context of acquisition via Nintendo:
Next Level Games is a video game development company based in Vancouver, Canada that has nearly two decades of experience creating video games for different console platforms. Recently, Next Level Games worked exclusively with Nintendo to develop software titles for the Nintendo 3DS and Nintendo Switch systems, including titles in the highly acclaimed Luigi’s Mansion series of video games.
Next Level Games’s shares are currently wholly owned by its owner directors and employees. A number of owners-directors have recently determined that the time is right to sell their shares, so Next Level Games has begun investigating potential sale transactions. Completion of the acquisition will ensure the availability of Next Level Games development resources for Nintendo, including development expertise, as well as an expected improvement in development speed and quality, by enabling closer communication and exchange of staff with the Nintendo development team.
The acquisition is expected to close on March 1, 2021, pending compliance with all relevant terms and conditions, including shareholder approval, approval of the regulation in terms of the Investment Canada Act and other customary closing conditions.
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