The new studio, revealed Tuesday, will develop games based on licensed IP, in addition to original titles ranging "from action/adventure to rhythm games to puzzle games," according to a statement from the company.
"It's important for today's games to look and sound amazing, but looks alone aren't enough. Our games will focus on gameplay first, to be supported and enhanced by spectacular visuals and audio," said Booth, who's serving as president of the studio.
The company is licensed for development by Sony, Microsoft and Nintendo.
Timefly said that it is paying particular attention to quality of life issues, including minimization of crunch periods.
"We have industry-standard pay and benefits plus some perks right now that very few small companies can provide," said O'Bannon, VP of Timefly. "And one of our founding principles is to maintain a fun family atmosphere no matter how big we get. We want people to have a blast working here."