F.E.A.R. 3 developer Day 1 Studios has been acquired by World of Tanks creator Wargaming for US$20 million (AU$19.1 million).

Under the purchase agreement Day 1 will operate under the name Wargaming West, and remain in its Chicago offices. The main Wargaming studio is located in Belarus.

Wargaming West will focus exclusively on the development of an unannounced console title.

"The move into console game development is a huge step for Wargaming, as we begin to expand our presence into new platforms," said Wargaming CEO Victor Kislyi.

"We are looking forward to sharing the fruits of our labour soon."

"Wargaming is a clear leader in the free-to-play space and helps set the standard on which all other games in the genre strive for," said Wargaming West head Denny Thorley.

"Our team is extremely excited to start the first console project for Wargaming."

Wargaming is currently polishing World of Warplanes and World of Warships, both of which are scheduled to release this year.

World of Tanks boasts over 45 million players worldwide.