Bandai Namco Holdings has announced today that it has sold 80% of its 96% stake in Monolith Soft to Nintendo, effective May 1. Bandai Namco gave Monolith's growth potential as well as stronger ties with Nintendo as reasoning.
Monolith is currently at work on Wii exclusive Disaster: Day of Crisis, and was also known to GameCube owners as the primary team behind Baten Kaitos and Baten Kaitos Origins. Outside Nintendo, Monolith was responsible for the Xenosaga series (which partially appeared as a remake on Nintendo DS); and prior to that, members of Monolith were responsible for Xenogears with Square Enix as well as the Chrono series—having departed Square after Chrono Cross.
Bandai Namco will continue to hold a stake in the company and use it for planning and development.
Monolith is currently at work on Wii exclusive Disaster: Day of Crisis, and was also known to GameCube owners as the primary team behind Baten Kaitos and Baten Kaitos Origins. Outside Nintendo, Monolith was responsible for the Xenosaga series (which partially appeared as a remake on Nintendo DS); and prior to that, members of Monolith were responsible for Xenogears with Square Enix as well as the Chrono series—having departed Square after Chrono Cross.
Bandai Namco will continue to hold a stake in the company and use it for planning and development.