Yesterday reports had suggested Crytek had purchased Free Radical Design, and now it's become official with jobs saved.
GamesIndustry reports that administrator ReSolve has the sale to Crytek was completed last night, preserving over 40 jobs. Crytek will be a familiar name to first person shooter fans, with the German studio producing the highly regarded CryEngine and starting off the award winning Crysis franchise.
Free Radical staff member Rob Yescombe spoke to 1up yesterday, confirming the sale but was unsure what would happen to existing franchises like TimeSplitters.
Thanks to C3 readers Linkyshinks and Marzy for the tip.