Epic Games bought a majority stake in Bulletstorm and Painkiller developer People Can Fly in 2007, and as of today they own the company outright. Epic Games announced that it has purchased the Warsaw, Poland-based developer who is currently working on Gears of War Judgment, though for how much they did not disclose. Epic made the decision to buy the company last week.
On a related note, Adrian Chmielarz, Andrzej Poznanski and Michal Kosieradzki have left the company. Epic's Mark Rein says that these departures will not affect the studio's ongoing projects in any way.