The administrators responsible for selling off the remnants of Free Radical have confirmed to GamesIndustry.biz
that Crytek's rumored acquisition
of the company has gone ahead. Cameron Gunn of ReSolve Partners stated, "We are pleased to announce that a sale completed to Crytek late last night thus preserving over 40 jobs."
A full announcement is expected at some time later today and will hopefully include more detailed information, as it's not yet clear whether Free Radical's IPs have also been obtained by Crytek. We'll keep you informed.