Valve Corporation has announced the acquisition of Orange County-based development house Turtle Rock Studios.
Founded in 2002 by Michael Booth, Turtle Rock Studios is the creator of the upcoming Left 4 Dead.
"We have been seeing very strong growth with Steam and Source, our content distribution and development platforms, up over 150 per cent over the last 12 months," said Valve president Gabe Newell.
"Given our expectations for Left 4 Dead and our long-standing relationships with members of the Turtle Rock team, this was an easy decision. It also gives us a base from which to expand our development activities in the Los Angeles area."
"Left 4 Dead fills a long-standing demand gamers have had for a co-op first-person action experience, and it will also help Valve's expansion into the console market," added Doug Lombardi, Valve's VP of marketing.
"As I spent time working and talking with the creators of those products over the past several years, it became clear that this was the right next step for myself, my colleagues at Turtle Rock, our customers, and our products," said Turtle Rock CEO Michael Booth.
"We are excited to be a part of such a visionary and forward-thinking company."