The story
It was founded in 1994. The company specializes in developing family-friendly video games based on various existing franchises, as well as the Buzz! Junior series for Sony Interactive Entertainment. It went on an indefinite hiatus since 2015, during which they purchased Cosmonaut Studios, whose game Eternal Threads was released by Secret Mode in 2022.
From Wikipedia’s article on Magenta Software, shared under CC BY-SA 4.0.3