Ubisoft deal for exclusive Tom Clancy rights sealed
Los Angeles (CA) - Ubisoft's exclusive acquisition of Tom Clancy material for video games for the forseeable future has been completed. Marked as one of the publisher's biggest deals, it ensures that Ubisoft's line of Tom Clancy games will continue for years to come.
The contract was finalized by Los Angeles-based Greenberg Glusker, a law firm with specialized experience in dealing with large financial deals in the interactive entertainment industry.
"This transaction further demonstrates that the video gaming business is no longer a niche business within the larger Hollywood entertainment landscape, but is a stand-alone player in its own right," said Greenberg Glusker attorney Stephen Smith.
Tom Clancy created a video game development company called Red Storm Entertainment in the 1990s. Ubisoft, based in France, purchased the company in 2000.
"The royalty savings generated by this acquisition are estimated to have an average positive impact on Ubisoft's operating income of a minimum of 5 million Euros per year," said Ubisoft in a statement earlier this month when it announced its intent to buy lifetime rights to Clancy's intellectual property.