Crytek acquired the Homefront property in 2011 following THQ going defunct. At the time, General Manager of Games Nick Button-Brown noted the company's purchase would allow Crytek UK (formerly Team Radical) to finish its work on Homefront 2.
"The worst case scenario for us was that this situation meant that all that work just ended up being thrown into the bin," Button-Brown said back in 2013, "so we wanted to buy the IP to make sure the team can finish off the game they wish to make."
Update: Deep Silver confirmed Homefront: The Revolution is coming to PlayStation 4, Xbox One and PC in 2015. Check out the details and announcement trailer here.