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Eventually they were hired by THQ to work on a game based on the Evil Dead franchise, and while on its early stages of development, on August 31, 1999, Steve Gray sold the company to THQ where it was renamed as Heavy Iron Studios.
Their first game, Evil Dead: Hail to the King, was released in late 2000.
In 2001, Steve Gray left to work back on EA, and Lyle Hall took over his position as the company's manager.
In 2004, Heavy Iron received an Outstanding Impact nomination and won a Best Team award from THQ for their work on The SpongeBob SquarePants Movie and The Incredibles, both released that same year.
Since then they have worked on a variety of games for other publishers, usually in the position of a support studio. As a result of financial troubles and a cost reduction effort, THQ announced on March 17, 2009, that Heavy Iron would be spun off as an independent company, which was effective on June 1, 2009, with Lyle Hall being named as both its president and chief executive officer.
SpongeBob's Truth or Square was their first game finished and released as an independent company in October 2009.
In 2015, they released their first fully original game, Fat City.
On September 17, 2020, it was announced that Heavy Iron would be acquired by Keywords Studios for US$13.3 million.
The acquisition was completed on January 13, 2021.
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Deep Silver Volition | 1993 | $20.0M | 236 | - |
| Gunfire Games | 2014 | $2.1M | 82 | 5 |
| Cryptic Studios | 2000 | $14.9M | 136 | - |
| n-Space | 1994 | $49.9M | 61 | - |
| Monolith Productions | 1994 | $8.4M | 100 | - |
| Interplay Entertainment | 1983 | $1.1M | 10 | 17 |
| Harmonix Music Systems | 1995 | $410.0M | 101 | - |
| 343 Industries | 2007 | $31.7M | 450 | - |
| Zombie Studios | 1994 | $15.0M | 175 | - |
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Heavy Iron Studios may also be known as or be related to Chemistry Entertainment, Heavy Iron Studios and Heavy Iron Studios, Inc.