From GamePro:

As a refresher to any youngsters out there, Master System was the 8-bit predecessor to the Genesis/Mega Drive released in 1986. It was popular in Europe but forgettable elsewhere.
In addition to Master System games, Sega will also release Game Gear titles and Japan’s Mark III, reports IGN.
Master System titles will launch in Japan in February starting with Fist of the North Star ($6) and Fantasy Zone ($5). A North American and European release schedule will follow thereafter.
In November 2007, Nintendo said it had sold over 7.8 million game downloads generating approximately $33 million in Virtual Console sales. Currently, the service hawks select NES, SNES, N64, Mega Drive/Genesis, TurboGrafx-16, TurboGrafx-CD, and Neo Geo games.

