Saw a mention about it, looked up and found this.
Their catalogue iirc is pretty overarching on both platforms and titles, and while I'd imagine Microsoft would absorb the titles similar to how Capcom did with Clover Studios, I'd also expect them to remove the titles on platforms they're not keen on releasing, like GOG and Sony's consoles.
As per the article, Microsoft and the studio are still on the agreements phase, so risk might not be too high immediately. But worth keeping an eye for, I'd say.