Red Faction has been owned by THQ Nordic since 2013. THQN purchased Deep Silver in early 2018. Developer-wise, it's possible that Deep Silver licensed Red Faction from THQN so Volition could make it. I don't see a timeline where this game began development after the THQN Deep Silver buyout, so if Volition are making it, it predates the buyout. However, it's quite possible that this is being developed by a completely different studio, since signs do point to Volition working on Saints Row. The most likely outcome is that the game is being made by some indie developer, although there aren't a whole lot of indie developers capable of making Red Faction-style games around. I guess we'll find out for certain in two weeks, unless they push the reveal forward in response.