The co-creator of the Xbox, Seamus Blackley, has announced his plans to launch a mobile-games studio, Innovative Leisure. Aided by a team of famous designers from Atari, he hopes to change the industry with iPhone and iPad games. Blackley will bring everything you loved about the arcade to the iOS.

“We are looking at the new arcade, and 99 cents on the iPhone is the new quarter,” said Blackley in an interview with VentureBeat.

The dream team of developers includes the creators of games like Battlezone, Major Havoc and Missile Command. In total, 11 arcade game creators have joined the ranks of Innovative Leisure. Blackley is funding the project with the help of THQ. THey call the deal a "strategic agreement," which will give THQ the rights to publish  Innovative Leisure's titles this year. THQ is on-board to potentially publish up to ten of the titles currently in development. We'll know more about Innovative Leisure's plans when they discuss "the new arcade" at DICE Summit in Las Vegas. G4 will be there to cover all of the announcements.

Be sure to tune into X-Play on Monday, February 6th, at 6:30 pm ET for an exclusive interview with Seamus Blackley.

Source: VentureBeat , Image Source: Justin Hall, Wikipedia