Is it just me or is there something wrong with Midway these days. After it closed down Stainless Steel only a few weeks ago, it seems they have shut down yet another, recently acquired, development studio. Midway Australia, formerly know as Ratbag, was bought by Midway earlier this year, and rumors has it that it has closed down. What is to come of the several titles that were in development is not know at this point and Midway has not yet replied to our inquiries.

UPDATESeems Midway also closed its San Diego studio, responsible for the just released Gauntlet: Seven Sorrows

Midway announced today that it has acquired Australian based developer Ratbag Holdings Pty Ltd. Midway acquired the privately-held developer in a primarily stock transaction for 418,570 Midway shares. The studio is currently working on several unannounced Midway products for both current- and next-generation systems. The studio will be renamed Midway Studios - Australia.