Gamebanshee has a preview from E3 about London: Hellgate
In the summer of 2003, just as Warcraft III: The Frozen Throne was headed to retail, Blizzard Entertainment watched as many of the talented developers at Blizzard North left to pursue employment elsewhere. Included in the exodus were four key members: Erich Schaefer, Max Schaefer, David Brevik, and Bill Roper. Erich, Max, and David were the original founders of Blizzard North (or Condor, Inc., before Blizzard acquired them), and all four developers had a major role in the success of Diablo, Diablo II, and their expansions. Rather than just parting ways, the small team founded Flagship Studios and began work on a new action RPG called Hellgate: London. Since that time, the team has grown exponentially and now lists a total of sixteen original Diablo II developers. To put it into a better perspective, Flagship Studios more or less is Blizzard North, creators of the Diablo franchise.
You can read it here.