Yet another company has acquired another, smaller develop, as Activision has sent a press release announcing their acquisition of game developer Beenox, Inc. Activision has worked with Beenox since 2003 on numerous games including such titles as Shrek 2, Tony Hawk’s Underground 2, and its upcoming release, Fantastic Four.

”We are excited about the talent and experience that Beenox brings to Activision,” said Kathy Vrabeck, president of Activision Publishing. “Beenox’s extensive porting background will be a key component of our console transition strategy by allowing us to focus our resources on next-generation technologies while continuing to develop games for current-generation systems. Quebec’s expanding innovative talent pool will provide Activision with future growth opportunities.”

Under the terms of the agreement, Beenox has become a wholly owned subsidiary of Activision and Beenox’s management team and key employees have signed long-term employment contracts with Activision. The 32 person team will continue to be based in Quebec City, Canada.

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