2K Australia was the designation given to the Australian branch of original BioShock developer Irrational after the game was completed. At the time, Irrational's main office was renamed 2K Boston, but recently switched back to the Irrational Games branding.
[Original] The lead BioShock 2 development team at 2K Marin is apparently not behind the first-person shooter "reimagining" of the classic PC series X-COM, as yesterday's announcement heavily implied, but in fact BioShock and BioShock 2 co-developer 2K Australia, publisher 2K Games has told 1up.
2K Australia is apparently now a "sister studio" to 2K Marin operating under its name, according to 2K, who refer to the studio as "the Canberra, Australia arm of 2K Marin."
The shooter named simply 'XCOM' is being made for PC and Xbox 360, though no release date is yet known. While many fans of the turn-based tactical series are upset about it becoming an FPS, 2K assures that "the Canberra, Australia arm of 2K Marin" will "true to the roots of the franchise" as they "re-imagine and expand the rich lore."