Rare Ltd. was purchased by Microsoft in 2002. The developer retained rights to Banjo-Kazooie, Conker, Perfect Dark and Killer Instinct and also developed new IP for Xbox 360, including Kameo: Elements of Power, Viva Pinata and Kinect Sports.
Talking to Poygon, Spencer didn’t give away too much more, saying, “Fans of Rare and Rare IP I think will be pleased with what we’re going to show at E3. We had a limited amount of time today and a lot of story to tell. But Rare remains an incredibly important part of our development capability. That historic IP that they’ve built I think can play a real important role on Xbox One.”
Microsoft renewed the trademark for one of Rare’s franchises, Killer Instinct, in September 2012.