South Korean publisher NCsoft has gained complete ownership of the City of Heroes IP and will be opening a new studio in California made up of members of the game's original development team.
The company plans a "major reinvestment" in the game in the form of expansions and future sequels for the MMOG.
This marks the second studio NCsoft has formed in just over a month. Previously, NCsoft had announced Carbine Studios, staffed by veterans of the industry and MMOG genre with the promise to "break new ground in massively multiplayer gaming."
NCsoft has claimed it has acquired key members of the City of Heroes team, including lead designer Matt Millen, lead engineer Aaron Brady and lead artist Ken Morse. All members of the City of Heroes team have been offered jobs at NCsoft.
"City of Heroes and City of Villains players should be assured that Cryptic Studios will be working closely with NCsoft to ensure a smooth, seamless transition," said Michael Lewis, President and Co-founder of Cryptic Studios. "The decision to sell the franchise allows us to focus resources on our soon to be announced first-party projects."
The next project for Cryptic is another superhero MMOG, set in the Marvel universe.