Capcom has announced that its wholly acquired K2 Studios via a simple exchange of stock which is expected to be completed on May 1.

"K2 has a proven record as a reliable provider of game development services for Capcom. By making this company a wholly owned subsidiary, Capcom plans to make its game development activities more efficient and speedy," Capcom said in a statement. "Capcom also believes that pursuing a business strategy based on closer ties with K2 will help increase the value of the entire Capcom Group."