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Microsoft Corp. said Tuesday, Sept. 24, it bought video game developer Rare Ltd. for $375 million in cash, a move the software giant hopes will help boost sales of its Xbox game console. The deal with Rare is Microsofts largest video-game-related acquisition ever.
Microsoft is picking up a firm with a reputation for producing popular video games. Rare, of Warwickshire, England, developed games exclusively for Nintendo for several years, turning out hits such as Donkey Kong Country, Goldeneye, Perfect Dark and Banjo Kazooie. Nintendo had a 49% equity stake in...