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Avalanche Software in Utah USA, founded in 1995. Acquired in 2005 by The Walt Disney Company sold in 2017 and now a subsidiary of Warner Bros. Games.
Their latest (2023) game released was Hogwarts Legacy.
Avalanche Studios Group in Stockhom Sweden, founded in 2003 Acquired in either 2015 or 2018 by Nordisk Film who is in turn a subsidiary of The Egmont Group.
Avalanche Studios Group is best known for the Just Cause series of games.
Systemic Reaction in Stockhom Sweden, founded in 2019? A subsidiary of Avalanche Studios Group who is also their publisher.
With 2 games released Generation Zero (2019) and Ravenbound (2023).
https://en.wikipedia.org/wiki/Avalanche_Software
https://en.wikipedia.org/wiki/Avalanche_Studios_Group
https://justcause.fandom.com/wiki/Avalanche_Studios
NOTE:
Nordisk Film's website states they got ASG in 2017 which contradicts most sources?
Basically: Nordisk film bought minority share 2015, and 2nd minority share 2017, and full shares/ownership 2018.
https://www.gamereactor.eu/dragon-punch-and-ground-slam-with-just-cause-3s-mech/
https://www.nordiskgames.com/studios/avalanche
https://www.mynewsdesk.com/se/avalanchestudios/pressreleases/nordisk-film-acquires-avalanche-studios-2523862
So I left out stuff, like many sources showing Systemic Reaction was founded 2020.
But All those companies are a bit confusing on who owns what, how, and when.
Was hoping to find some conspiracy of ownership actually. Next time I hope!