Midway adds Aussie acquisition to studio lineup

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Just hours before announcing its first-quarter earnings, Midway Games said it has acquired Powerslide developer Ratbag. The studio, bought in its entirety for an undisclosed amount of cash and 418,570 Midway shares, has been rechristened Midway-Australia.

The acquisition brings the number of Midway-owned studios to seven, with locations in San Diego, Seattle, Austin, Los Angeles, Munich, London, and now Adelaide, Australia, Ratbag's home. According to Midway, the studio is currently working on several unannounced Midway products for both current- and next-gen consoles.

The studio comes under the direction of Midway's senior vice president of worldwide studios Matt Booty, who said in a statement that the new operation will add "development expertise in driving and on-foot combat" games.

Ratbag was founded in 1993; it's first mainstream title was the GT Interactive-published Powerslide, released in late 1998.