Crytek has rescued Free Radical, according to the scriptwriter of the studio's 2008 PS3 game Haze.
Speaking to 1up, Haze writer Rob Yescombe said "After seven long weeks of uncertainty, I can confirm that Free Radical is now out of the woods. We've been bought by a really, really good company. It's the smoothest deal we've ever done. It all went through quickly, efficiently, fantastically."
The news follows weeks of uncertainty for the studio and its staff. The team arrived to work on December 18th only to find the studio closed - a meeting a nearby hotel confirmed the studio had gone into administration.
On New Year's Eve 140 staff werw laid off by administrator ReSolve Partners, with the remaining 40 kept on to keep the studio running.
It's thought that two company founders David Doak and Steve Ellis have formed a new start-up, called Pumpkin Beach. It's not yet known what this means for the studio's most recent project, the sequel to its long-running TimeSplitters franchise.
Other games the studio was known for include Second Sight and the poorly-recieved aforementioned Haze.