Flagship was an independent developer funded by Capcom, Nintendo and Sega that was founded by game designer Yoshiki Okamoto. Flagship often created scenarios for new and existing products (like Resident Evil remake and Resident Evil 0), and has developed for Nintendo several times on the Game Boy Color and Game Boy Advance, including but not limited to Zelda Oracle of Seasons/Oracle of Ages and Zelda Minish Cap. Their last video game was Kirby: Squeak Squad for the Nintendo DS.
According to Capcom, while the Flagship name was axed, its employees weren't. The only thing to change was the company name on their business cards, all Flagship staffers were expected to continue working at Capcom.