Aces Studio was an independent game studio. They were bought by Microsoft

Microsoft

Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...

 and produced many
popular titles, such as Microsoft Flight Simulator

Microsoft Flight Simulator

Microsoft Flight Simulator is a series of flight simulator programs for the Microsoft Windows operating system, although it was marketed as a video game. It is one of the longest-running, best-known and most comprehensive home flight simulator series...

 and Combat Flight Simulator

Combat Flight Simulator

Combat Flight Simulator is a series of combat flight simulator games from Microsoft. The series includes:* Combat Flight Simulator WWII Europe Series* Combat Flight Simulator 2* Combat Flight Simulator 3: Battle for Europe...

.
Due to budget cuts Aces studio was closed down in 2009, and are yet to be reopened, but it unlikely due to Microsoft using their own company Microsoft Game Studios to develop their games.

In October of 2009, members of the Aces Studio formed a new game studio called the Cascade Game Foundry

Cascade Game Foundry

Cascade Game Foundry, LLC, Est. 2009, is an independent game developer dedicated to simulation entertainment, founded by Creative Director Rick Selby and Managing Director Kathie Flood...

for the development of simulation games.