21 March 2011 Last updated at 07:21 ET
APB was five years in development
Real Time Worlds went into administration in August, just months after launching All Points Bulletin.
Reloaded Productions bought the rights to the online role-playing game, where players fight each other in the virtual dystopia of San Paro.
At least 22 jobs will be created in a development team in Edinburgh.
The studio was launched with help from Scottish Development International and £25,000 from Scottish Enterprise.
Reloaded already has studios in Irvine, California and India.
The game will be relaunched as APB Reloaded and the Edinburgh jobs will be in game engineering, 3D art and game design.
Culture Minister Fiona Hyslop said: “It is testament to the talent, infrastructure and cutting-edge skills Scotland has to offer in this fast-growing and competitive market and our continued promotion of this key sector internationally.
“Today’s announcement reinforces Scotland’s global reputation for creativity and innovation and as an attractive location for growth companies.”
Ms Hyslop has also launched the Scottish government’s creative industries strategy.
She said: “I am confident that this strategy for the creative industries, with its focus on growth, talent and ambition, will help make Scotland a more successful country with opportunities for all to flourish.”
The strategy sets out how the Scottish government is working to support the sector, including improving skills, increasing investment and improving access to finance and international markets.
Bjorn Book-Larsson, chief executive of Reloaded Productions, said that after seeing the Scottish government’s support for creative and technical ventures, the company decided to invest in a Scottish team.
He added that Reloaded Productions hoped to increase the size of the team over time.
Real Time Worlds had been heralded as one of the UK’s video game success stories.
However, major commercial success eluded the company and the release of APB, which had been in development for five years, in mid-2010 attracted mixed reviews.
A few weeks after the launch of APB, Dundee-based RTW went into administration, with the loss of 250 jobs.
RTW was founded in 2002 by Dave Jones after he left Dma Designs – the firm behind the first Grand Theft Auto.