RPG fans, prepare to salivate. According to IGN, Nintendo and Namco-Bandai have worked out an agreement to transfer majority ownership of Monolith Soft over to Nintendo effective May 1st. Monolith Soft is best known for the Xenosaga trilogy on the PS2 (and for Xenosaga I and II on the DS in Japan), but Monolith also contributed significantly to the GameCube's RPG library with Baten Kaitos and Baten Kaitos Origins.

Namco-Bandai will retain a 16% stake in the developer, so Monolith could conceivably develop for other platforms. Nintendo, however, will soon own an 80% stake, meaning the developer will most likely be working primarily, if not exclusively, on Nintendo consoles from here on.

More on this as it develops.

Source: IGN