Nintendo has confirmed its intention to acquire Next Level Games, the studio behind Luigi's Mansion 3, in a statement, it released to shareholders and more widely today.
According to Nintendo, it intends to make the Canadian studio a subsidiary of Nintendo, but the deal is still pending approval from shareholders.
Next Level Games has worked with Nintendo in the past on games including Luigi's Mansion 3 and Super Mario Strikers. Presumably, the studio will continue to work on similar titles for Nintendo after the purchase, should it complete.
According to Nintendo, the purchase will only have a minor effect on Nintendo's financial year. What are their plans for Next Level? Only time will tell...