http://www.joystiq.com/2014/07/30/homefront-acquired-by-deep-silver-production-of-sequel-to-conti/
Edit: Eurogamer Says Deep Silver has "re-purposed" Crytek UK (but Schreier says this might not be the case)
Edit 2: Former Homefront: The Revolution Director who left Crytek UK recently is heading up the new studio.
Clearly tired of Crytek's "transitional phase," publisher Deep Silver's parent company has acquired the Homefront intellectual property and related assets from Crytek. Homefront: The Revolution was under production at Crytek UK, with recent reports declaring production had halted and the game's director resigned.
The game will now be completed by the newly founded Nottingham-based Deep Silver Dambuster Studio. We've followed up with Deep Silver about whether staff from Crytek UK is transitioning over and will update with any further details.
Edit: Eurogamer Says Deep Silver has "re-purposed" Crytek UK (but Schreier says this might not be the case)
Boom!
Deep Silver parent company Koch Media has bought the Homefront intellectual property from Crytek and re-purposed Homefront: The Revolution developer Crytek UK into Deep Silver Dambuster Studios.
Source (Eurogamer)
Edit 2: Former Homefront: The Revolution Director who left Crytek UK recently is heading up the new studio.
I am still trying to figure out exactly how many Crytek UK people are moving, or whether it's all of them, or what.
I do know that Hasit Zala, who was the director on Homefront: The Revolution and left Crytek UK a few weeks ago, is heading up this studio.