Activision has announced the acquisition of UK-based developer Bizarre Creations.
Under terms of the agreement, Bizarre Creations will become a wholly owned subsidiary of Activision and the company's management team and employees will continue with the company as their teams start to develop two new AAA titles alongside their current projects.
According to Bizarre, there will be no redundancies.
"Activision continues to grow and drive greater value for our shareholders by broadening our portfolio and entering new gaming categories with strong global appeal," said Robert Kotick, chairman and CEO of Activision.
"Bizarre Creations is the leading independent developer with a proven track record in developing highly successful and influential original properties, especially in the racing field. They are one of the most innovative and creative studios in the industry, and we are very excited to welcome this talented creative team to Activision."
Bizarre Creations is best known for the Project Gotham Racing franchise, which has sold more than 4.5 million units in North America and Europe. The developer is currently finishing The Club for SEGA, and also created the Geometry Wars series on Xbox Live Arcade.
"Our goal at Bizarre Creations has always been to do all we can to nurture our creative and passionate teams, who excel at and enjoy what they do," said Martyn Chudley, managing director of Bizarre Creations.
"Activision's independent studio model will continue giving us creative freedom to build exciting new brands. Their financial support and marketing prowess will also enable us to build upon the commercial success that we currently enjoy, and take the company – and our games – to an even higher level."