Playtonic Games, developer of Yooka-Laylee and its recent sequel, has squashed speculation it is being bought by Microsoft.

In a statement posted to Twitter today, the UK-based studio apologised to fans excited by the idea its team was working on a new Banjo-Kazooie game under the Xbox Game Studios umbrella.

Playtonic, of course, was founded by former Rare staff who cut their teeth on the studio’s library of classics including Banjo and Donkey Kong Country.

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Source: Eurogamer Yooka-Laylee studio shoots down Microsoft buyout talk