Chicago — Midway Games, a developer and publisher of video games, announced on Thursday that it has acquired Australian game developer Ratbag, in a stock transaction valued at about $5.6 million. The developer of "Powerslide," which is currently working on several unannounced Midway products for current and next-generation consoles, will be renamed Midway Studios Australia. "This transaction is consistent with our strategy of adding depth to our internal product development organization," said Midway president and CEO David F. Zucker. "Ratbag brings to Midway a rare combination of development expertise in driving and on-foot combat that they are incorporating into our games now in development."
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