Angel and Take-Two have worked together in the past. Angel's
Midnight Club and
Smuggler's Run both appearing under Take-Two's Rockstar label, and the studio had a
Midnight Club sequel and an additional Rockstar title under development at the time of the acquisition. The deal, valued at $28 million in cash and 235,679 shares, makes Angel a wholly owned subsidiary of Take-Two. All 125 Angel employees will remain on location at Angel's Carlsbad, Calif. facility, and senior management will remain with the company under long-term contracts. Following the pattern set by Take-Two purchases of Barking Dog and DNA Design, Angel Studios will be known as Rockstar San Diego.
