Toys for Bob, the developer responsible for the most recent Spyro the Dragon and Crash Bandicoot games has announced that they’re going independent and parting ways with Activision-Blizzard.

The news comes amid industry-wide layoffs and restructuring that’s affected companies from Sony to Embracer Group.

You can check out their message to fans below.

We’re thrilled to announce that Toys for Bob is spinning off as an independent game development studio!

Over the years, we’ve inspired love, joy, and laughter for the inner child in all gamers. We pioneered new IP and hardware technologies in Skylanders. We raised the bar for best-in-class remasters in Spyro Reignited Trilogy. We’ve taken Crash Bandicoot to innovative, critically acclaimed new heights.

With the same enthusiasm and passion, we believe that now is the time to take the studio and our future games to the next level. This opportunity allows us to return to our roots of being a small and nimble studio.

To make this news even more exciting, we’re exploring a possible partnership between our new studio and Microsoft. And while we’re in the early days of developing our next new game and a ways away from making any announcements, our team is excited to develop new stories, new characters, and new gameplay experiences.

Our friends at Activision and Microsoft have been extremely supportive of our new direction and we’re confident that we will continue to work closely together as part of our future.

So, keep your horns on and your eyes out for more news. Thank you to our community of players for always supporting us through our journey. We can’t wait to share updates on our new adventure as an indie studio!

It’s unclear what this departure will mean for the Spyro and Crash Bandicoot franchises.