BandaiNamco and SCEI today announced that they are forming a new Tokyo-based subsidiary company, Cellius, in a bid to develop fresh content for Sony's Cell Broadband Engine. Cellius will be in the hands of "PlayStation's dad", Ken Kutaragi, who will be appointed as the new company's Chairman.

Initial investment from BandaiNamco and SCEI is approximately US$824,000; SCEI will have a 49% stake in Cellius, with BandaiNamco controlling a 51% share. Although there are no plans for Cellius to work directly on PS3 games, the new outfit will be producing "interactive entertainment" and "business contents" when its doors open on March 6. What those terms actually entail, we'll just have to wait and see, but perhaps Ken Kutaragi will now have a fair opportunity to show us what he was talking about at last year's Tokyo Game Show conference.

Click through for the Japanese (PDF) press release.

This article was originally published on Joystiq.

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