This is what happened to Rage:
http://www.ukbusinesspark.co.uk/rae34353.htm
Rage, the Liverpool-based video games developer, has gone into receivership with the loss of about half of the 150 jobs, and a buyer is being sought for its four development studios. 16-Jan-03
Rage Software is planning to shed about 66 of the 245 jobs in its computer games business over the next few months, affecting sites in Liverpool, Warrington, Sheffield, Birmingham, Bristol and Newcastle. 27-Jun-02
Rage Software is planning to raise Ј5.6m in a share offer, in order to secure the future of its computer games business. 28-May-02
Rage Software has secured a Ј20m funding package to help with its transition into publishing its own computer games. 13-Jun-01
Rage Software has acquired the Caffeine Studios and The Internet Football Club for Ј3m, as part of a strategy to transform itself from a games developer into a games publisher. 14-Apr-00
http://games.ign.com/objects/026/026106.html?fromint=1
Rage Software
Game development studio founded by Paul Finnegan in 1992. Rage's first title, Striker, sold more than one million copies throughout its two-year life cycle and established Rage as a major creative force in the interactive entertainment industry. The company went through rapid expansion in the 1990s and partnered with multiple third party software publishers for distribution of its titles.
Rage Games was renamed Rage Software in 1996 and Paul Finnegan also became group MD at the same time. Since then Rage has continued to form commercial partnerships with major publishing houses, including Microsoft, Intel, Dell, Compaq, Nintendo, Sony and Sega.
In October 2002, Rage was sold to newly founded Swordfish Studios for the stunning sum of 1 pound.