THQ have announced that they are to acquire Arizona based Rainbow Studios, further strengthening their development opportunities on next-gen consoles.

Rainbow Studios has a strong history spanning 15 years, and several extremely well known titles including Motocross Madness PC series, ATV Offroad Fury for PS2, Tiger Woods PGA Tour 2000 for PC.

A number of titles are under development by Rainbow Studios including Matt Hoffman's Pro BMX, Splashdown and Star Wars Racer II: Racer Revenge, all for PlayStation 2.

Earl Jarred, Chairman of Rainbow Studios said "Our single greatest achievement through the years has to be the amazing talent we have assembled from all corners of the globe. I am delighted that they will now have even greater opportunities to succeed with the added strength and support of THQ behind them".

As soon as we get to hear any more news of new games under development for THQ, we'll let you know, right here on GamesPaper.