Reports on a rumored deal between Crytek and Free Radical Design started fluttering about last night, and this morning, it seems as if it's become official. GI.biz is confirming that Crytek has purchased Free Radical, and that the move has saved "over 40 jobs."
The details of the transaction have not been announced as of this writing. Considering Crytek's technical know-how and Free Radical's console focus, the two first-person shooter developers could make a pretty tight fit.