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In page Atari Jaguar:

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Both the Jaguar and Panther were developed by the members of Flare Technology, a company formed by Martin Brennan and John Mathieson. The team had claimed that they could not only make a console superior to the Genesis or the Super NES, but they could also be cost-effective.[2] Atari was impressed by Flare's work on the Konix Multisystem, and persuaded them to close Flare and form a new company called Flare II, to be funded by Atari.[citation needed]