Namco Bandai has announced on their official corporate website that they will be dissolving its Namco Tales Studio subsidiary in the upcoming months following a transaction which will take effect on January 1 following a board approval on November 29.

As many already know, Namco Tales Studio is a wholly owned subsidiary of Namco Bandai that's responsible for the Tales of series of games and was founded on March 20, 2003. As of this April the company has 109 employees.

Namco Bandai didn't state any reasons for the move, but with Tales of Xillia's recent success and the prospect of a possible Tales of Xillia animation this move is likely aimed at bringing the subsidiary under the full wing of Namco Bandai and the company will still develop Tales games and will simply cease to exist as a public company.

If any more news breaks as to the exact details regarding this news we'll update this article.