Munich based Koch Media has acquired the rights to develop Homefront The Revolution, having purchased the IP from Crytek for an undisclosed fee.
The project, which is now under control of its third owner since conception, will be finished at a new Nottingham studio called Deep Silver Dambuster.
It is not clear what this means for Crytek UK, the Nottingham studio which was overseeing the project before Koch Media acquired the IP, but rumours of turmoil at the company have surfaced in recent weeks. It is believed, though not officially confirmed, that key staff had left Crytek UK after monthly salaries were not paid.
CVG understands that Deep Silver Dambuster was formed in July by several executives, including the former Crytek UK project lead Hasit Zala.
Crytek has issued a statement which suggests its UK staff and studio have been wholesale transferred to Koch. It did not specifically state that its Nottingham business will be shut down, nor did it mention the UK when listing its active development hubs. The company was unavailable for comment at the time of going to press.
In a prepared statement, Crytek said: "On completion of the proposed acquisition, the Homefront team from Crytek's Nottingham studio would transfer their talents to Koch Media in compliance with English law and continue their hard work on upcoming shooter, Homefront: The Revolution. Both parties hope to finalise and implement a deal soon."
Koch Media, which owns the Metro IP as well as Saints Row developer Volition, talked up the commercial potential of the Homefront IP in a statement issued to the press.
"We strongly believe in the potential of Homefront: The Revolution"
"We are thrilled to see another great IP joining the Deep Silver universe," said chief executive Klemens Kundratitz.
"We strongly believe in the potential of Homefront: The Revolution and trust in the new team to continue the path they have been walking in the last years."
Terms of the deal, including how much money Crytek generated from the sale, were not disclosed.
Homefront The Revolution has been on a tumultuous journey since it was announced in 2011.
As a foretoken of problems to come, in 2011 the IP's former owner, THQ, closed down the original game's New York-based developer Kaos.
THQ assured the sequel was still in development, months before the publisher filed for bankruptcy and subsequently sold the game to Crytek for an undisclosed fee, believed to be in the region of $500,000.
The corporation recently gave assurances that it had secured funds for its future.