What just happened? The defunct developer's assets have been purchased by a group of investors and advisers intent on reviving the company, relaunching several titles from its back catalog and developing new games based on its most popular IP.

It's been a little more than nine months since Telltale Games shut its doors and started the liquidation process. The development wasn't entirely surprising considering the firm laid off a significant number of employees under the guise of a restructuring plan roughly a year earlier.

The new Telltale Games will be headquartered in Malibu and run by Jamie Ottilie and Brian Waddle, industry veterans with decades of experience under their belts. Ottilie will serve as CEO while Waddle will handle business development, finance and operations as chief revenue officer.

"All of us were big fans of the games Telltale created, as we strongly believe in games as a storytelling medium and nobody did it better," said Ottilie. "Even now, when you see a game with strong narrative, it's always compared to Telltale, so it's no surprise that players and industry colleagues alike mourned the studio's closure. We believe there is still so much life to the brand and its franchises, and we look forward to building upon the company's storytelling legacy."

Other well-known industry players including Chris Kingsley, Lyle Hall, Tobias Sjögren and Athlon Games were also involved in the acquisition.

Telltale said key talent from the original company has been hired or contracted by the new company, adding that news regarding the reissue of back catalog titles and new games will be revealed in the coming weeks. "We've got some exciting things to share soon," said Waddle. "We'll try not to keep them waiting too long, but we think fans will be pleased."