An international division was later founded in British Columbia, Canada, which acquired all intellectual property and shares of the original Valhalla Game Studios and other affiliates, effectively making them subsidiaries of the Canadian company.

To differentiate, the original Valhalla Game Studios is alternatively referred to as VGS Japan.

Valhalla's parent company, Wake Up Interactive, was acquired by Tencent for $44 million in November 2021.

Following the closure of development partner THQ, intellectual property rights to Devil's Third were given back to Valhalla Game Studios.

It was confirmed that features that were absent in the original, such as voice chat, would be added to Devil's Third Online.