Budcat Creations is perhaps best known for developing the excellent DIY shmup Blast Works: Build, Trade, Destroy for Majesco. But they've also ported Guitar Hero World Tour, Aerosmith, and III to the PlayStation 2 for Activision, and it's that kind of work that they'll be doing now as a newly-acquired company.
Activision announced today that they've purchased Budcat, and that the developer is working on "a new game in the Guitar Hero franchise." Normally, we would suspect that Budcat has been purchased for the explicit purpose of creating PS2 ports, but the PS2 isn't mentioned anywhere in Activision's press release, while the Wii and DS are. In fact, the press release highlights their "expertise" with the Wii and the DS specifically, and Activision CEO Mike Griffith says that the acquisition "strengthen(s) our development capabilities on the Nintendo platforms."