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Vicarious Visions, one of Activision’s teams notable for their recent Crash Bandicoot and Tony Hawk's Pro Skater remakes, has been moved under the Blizzard umbrella, according to this GamesIndustry.biz article. And if you ask me, this pretty much confirms the earlier rumors that the studio is currently working on Diablo II: Resurrected - a remaster of the second Diablo game.
Some additional details:
Going forward, the Vicarious Visions team of about 200 people will be employees of Blizzard and "fully dedicated to existing Blizzard games and initiatives," which means the Tony Hawk's Pro Skater 1+2 studio will no longer be creating games as the lead developer.
"After collaborating with Vicarious Visions for some time and developing a great relationship, Blizzard realized there was an opportunity for [Vicarious Visions] to provide long-term support," a representative explained to us. They declined to specify what the team has been working on with Blizzard, or for how long.