RAD Game Tools is a long-established name in game development circles, creating a number of tools including Bink Video, which was widely used for FMV sequences in games throughout the '90s and 2000s. According to the company site, their tools have been used in more than 24,000 games over the years.
The company has now been acquired by Epic Games, who plan to integrate the company and technology into its Unreal Engine product, one of the most popular 3D game engines used today.
In the announcement, Epic CTO Kim Libreri said "We know first-hand how impressive RAD’s compression technology is, having used it to improve the load time and quality of our most popular games—including Fortnite. The RAD team includes some of the world’s leading compression, video and game dev tooling experts, and we are thrilled to welcome them to the Epic family."
Epic promises that the acquisition will give Unreal developers more access to tools, will make games load and download faster, and will offer a better experience for gamers. RAD Game Tools will continue to support its existing partnerships in the game, film and TV industries, however.