Namco Bandai to absorb and close Tales studio
Namco Bandai has announced plans to absorb the Namco Tales Studio, developer of the Tales series, on January 1, at which point the studio will be officially dissolved.
Andriasang reports that the publisher declined to give a reason for the move, saying only that it will be rubber-stamped at a board meeting on November. The studio, which employs over 100 staff, has two games in development: Tales Of The Heroes: Twin Brave for PSP, and Tales Of Innocence R for the upcoming Vita.
Formerly known as Wolf Team, Namco renamed the studio when it bought some of Telenet Japan's shares in 2003, taking its stake in the studio to 60 per cent. In 2006, Namco Bandai bought out Telenet entirely to increase its holding in Tales Studio to 94 per cent. Tales series director Eiji Kikuchi held the last six per cent of company stock, but the pubisher has since bought him out too, giving it full control.