With all of the recent cost reductions that Microsoft has been making these days, you can imagine our surprise when we found out that Microsoft will be acquiring BigPark and making it a member of Microsoft Game Studios.

The Vancouver-based studio is headed up by Interactive Entertainment Business guru Don Mattrick, who started the studio prior to moving to Microsoft. Hanno Lemke, who is the BigPark CEO, is an industry veteran who has worked for Distinctive Software and Electronic Arts in the past. Lemke has acted as either the producer or has headed up such other successful titles, including NHL Hockey, Need for Speed, and Skate. Lemke will be reporting to Phil Spencer once the MSG deal is completed.

According to the whispers we hear, BigPark has been hard at work on a new Xbox 360 exclusive mystery title that is expected to be unveiled by Microsoft at E3. Details as to the specifics of the title remain a real mystery, as no one seems to know what BigPark has been working on or what might be announced.

Mattrick did disclose his involvement as an investor in BigPark prior to joining Microsoft and the company accepted his involvement prior to his joining the company. All we really know at this point is that Microsoft thinks whatever BigPark is working on will be a hit and they want to make sure that they are able to work closely to see this title do well. We will have to wait until E3 to see what BigPark has in its pockets.