Red 5 Studios has announced that it's licensed the Offset Engine from Project Offset (aka Offset Software) and will be "demonstrating the Offset Engine at the upcoming Game Developers Conference" in March.

Red 5 Studios was formed by a few Blizzard veterans who helped produce World of Warcraft. The game planned to use the Offset Engine will be the first of hopefully many MMO titles from the upstart developer.

According to the Red 5 press release linked: "Every aspect of the Offset Engine is designed around the goal of reducing development time and cost," something the small studio should find particularly pleasing.