Yeah, this is happening...
Atari, the company I have joined this year, was death at the end of the last century and it was converted in a company publishing games from other game developers.
In 2003, it has been started to be acquired by Infogrammes Inc., a French corporate and in 2008, Atari was fully acquired and then EdenGames (about 150 people) became an internal developer of Atari. Actually, the only one.
Then, things are happening very rapidly, at the end of the summer, Atari created a second studio in London bringing Paulina Bozek (the pretty girl producer previously head of SingStar) to Atari (Read article here). Now, Atari fully acquire massively multiplayer online (MMO) game developer Cryptic Studios. Read the article here. So, another 150 people are now employees of Atari. Cryptic Studios has been awarded in all this online stuff.
This are going fast ! 3 studios in less than a semester !!