A new Japanese toys and games powerhouse has been created, with Bandai acquiring video game firm Namco in a deal worth some $1.6bn.
The merger of Bandai ? best known for its Power Rangers toys ? and video games veteran Namco will create Japan?s second largest toy and games business after Sega Sammy Holdings. The deal marries Bandai?s strength in IP with Namco?s technological prowess
?Amid severe market conditions we decided a merger was the best way to focus our resources in an effort to boost corporate value, expand our business and come out top of the competition,? the two companies said in a joint statement.
The two firms will form a holding company on September 29th in which Bandai will hold a 57 per cent stake and Namco the remaining 43 per cent.