Deep Silver has acquired the Homefront intellectual property from Crytek, and Homefront: The Revolution is now being developed at a new studio, Deep Silver Dambuster Studios, Deep Silver announced today.

"We are thrilled to see another great IP joining the Deep Silver universe," said Dr. Klemens Kundratitz, CEO of Deep Silver parent company Koch Media, in a press release today. "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."

According to Koch Media, the acquisition includes "the Homefront brand and all coherent assets." The company did not disclose financial terms of the deal.

Homefront: The Revolution is the upcoming sequel to 2011's Homefront, which was developed by the now-defunct Kaos Studios and published by the now-defunct THQ. Nottingham, U.K.-based Crytek UK, formerly known as Free Radical, began developing the sequel for THQ. The studio's parent company, Crytek, acquired the Homefront IP from THQ for just over $544,000 after the latter company went bankrupt in December 2012. Deep Silver had already been jointly publishing Homefront: The Revolution with Crytek.

A Deep Silver representative confirmed in an email to Polygon today that Deep Silver Dambuster Studios, which is also located in Nottingham, is a new company founded specifically to take over development of Homefront: The Revolution and the Homefront franchise. Dambuster Studios is Deep Silver's third internal development house, joining Champaign, Illinois-based Deep Silver Volition and Hamburg, Germany-based Deep Silver Fishlabs.

The representative could not confirm whether any developers from Crytek UK are moving to Dambuster Studios to continue working on Homefront: The Revolution, because "all of this is still in process." At Crytek UK, Homefront: The Revolution was in development on Linux, Mac, PlayStation 4, Windows PC and Xbox One.

Crytek UK and Crytek have been dogged by numerous recent reports of financial turmoil, including rumors that employees were refusing to come into work after weeks of not receiving paychecks. Crytek released a statement earlier this week saying that it had secured the additional funds it needed to continue its transition from a developer to an online publisher. The company acknowledged that "the flow of information to employees has not been as good as it should have." We've reached out to Crytek for comment, and will update this article with any information we receive.