Update (22/07):

The Chinese Room confirmed to Game Developer that as a result of the split, the studio has begun a round of layoffs affecting an undisclosed number of employees. "Following the divestment process a number of roles were regrettably made redundant," said a company spokesperson. "The specifics are confidential but the studio is currently 55 developers. This was a very difficult process as we sought a future for the studio outside of Sumo. No more layoffs are planned as the studio moves forward."

Original article (21/07):

UK-based developer The Chinese Room, best known for last year’s psychological horror title Still Wakes the Deep, has announced it is once again independent from Sumo Digital after a management buyout.

The details:

As reported by IGN, a spokesperson for the studio has officially confirmed that it has cut ties with Sumo Digital following the completion of a management buyout facilitated by venture capital firm Hiro Capital. "This management buyout allows us to scratch the creative itch of continuing to work on new, original intellectual property, but also to partner with other studios on other projects when they fit in with our vision," said studio director Ed Daly following the deal. "This is what we are doing, and we want to carry on doing it, so we're happy to carry on in this vein."
Daly will continue to lead the studio, and it will work on its existing projects that originally began under Sumo's ownership, including Vampire: The Masquerade - Bloodlines 2 and two new unannounced IPs.
The buyout follows a rough period for former owner Sumo Digital, which stated that it would be focusing efforts on "development services for partners" rather than creating its own IPs, suggesting that The Chinese Room could have become a support studio. This followed layoffs last year that saw 15% of Sumo’s workforce being let go and the closure of Canada-based Timbre Games.

More gaming news:

Still Wakes the Deep developer The Chinese Room goes independent following buyout, confirms layoffs