Both the development time and the budget have come in at a variety of different numbers with people refuting them, and I'll bet several of those figures depend on how you count. The range is now somewhere between 4-10 years, and $50-$400M, which is an absurd amount of variance, but even at 4 years and $50M, it's still probably too long and too much money to spend on a game that you don't know is going to find a substantial audience.

EDIT: Kotaku is reporting that the acquisition was $200M and did not cover all development costs, which lends credence to that report from Colin Moriarty claiming $200M pre and then $200M post acquisition for the figure of $400M.