Over 40 jobs have been saved at UK studio Free Radical Design, following its purchase by Crytek last night.
"We are pleased to announce that a sale completed to Crytek late last night thus preserving over 40 jobs," confirmed Cameron Gunn, administrator at ReSolve Partners.
A formal announcement is expected later today. It is not yet clear whether Crytek has acquired the whole business, including intellectual properties such as TimeSplitters and Second Sight.
Free Radical Design went into administration just before Christmas last year, laying off more than 140 positions. However, administrator Resolve was confident of a sale following significant interest.