Take-Two shares rose 3.5% Tuesday to $124.20.
"We’re inspired by our passionate community and excited by the opportunity to create a dynamic, innovative, and unique XCOM experience for both fans of our games and new players in 'XCOM: Chimera Squad,'” said Steve Martin, President at Firaxis Games.
The announcement is the second big video game announcement Take-Two has made over the past month.
In March, the company announced that its 2K game imprint has revived its partnership with the NFL, agreeing to produce non-simulation football games with NFL licensing starting in 2021.
It has been 16 years since Take-Two last produced an NFL game after the sports league signed an exclusive deal with Take Two rival Electronic Arts
That deal is still in place, with EA Sports' Madden NFL franchise being one of the industry's top-selling games annually. But now Take-Two will be able to produce games that won't directly compete with EA's offerings.
Last week, Wells Fargo initiated coverage of Take-Two with an overweight rating with a $150 price target. Analysts at the firm said that the company "could be the last mega-product cycle story available among video game stocks."
"At $7B lifetime sales & counting, ('Grand Theft Auto V'), released in 2013, is the top selling video game of all time, and potentially the most lucrative media product ever created," the note said. "We think a successful release of GTA VI would raise the steady state level of net bookings at TTWO by 33-50%, with significant OpEx leverage boosting operating income through the $600MM ceiling."