"Rings of Power" was created with a low budget. Universal Studios signed a deal with the duo to a three-title deal and fund the expansion of the company. Mark Cerny, who had produced "Sonic the Hedgehog 2" for Sega, convinced Naughty Dog to focus on new resources on creating a character-based platform game in 3D. "Crash Bandicoot" was developed and became the first 3D video game by Naughty Dog. for the PlayStation on September 9, 1996. Naughty Dog would develop three "Crash Bandicoot" sequels over the next several years. In January 2001, it was announced Sony would acquire Naughty Dog. After developing the fourth "Crash Bandicoot" game ("Crash Team Racing"), the company began working on "Jak and Daxter" for PlayStation 2. In 2004, Naughty Dog's studio president and co-founder, Jason Rubin left the company to work on a new game named "Iron and the Maiden".