Terms of the deal have not been disclosed, but Buena Vista Games now has hold of one of the premier developers of racing titles. The deal is expected to be completed in early October.
"The acquisition of Climax Racing aligns perfectly with our strategic and geographic goals by allowing us to both reach into new genres and new markets for creative talent," said Graham Hopper, senior vice president and general manager, Buena Vista Games. "Adding Climax Racing to our creative family will provide an additional catalyst for our continued growth in the video games market."
Climax Racing is best known for the MotoGP franchise which has been an Xbox mainstay and had the honour of being the first Xbox Live title. Tony Beckwith, co-founder of the studio, has been named vice president and general manager of Climax Racing.
"This promises to be a mutually beneficial relationship and we believe that together we will make outstanding games for the next generation and beyond," said Beckwith.
It's unclear how the acquisition will affect the next instalment of the MotoGP series, although it looks certain that a new development team will have to be drafted in to replace Climax Racing.