Rhys Blakely
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Warner Bros, the Hollywood studio, took its interest in computer games to a new level today, announcing the acquisition of TT Games, the UK-based developer of the Lego Star Wars series.
It is estimated that the deal is worth up to £80 million, a sum that would land Jon Burton, the TT Games controlling shareholder, a £60 million windfall.
Financial details were not disclosed by the two companies.
The move was described by a Warner Bros spokeswoman as “the next big step” in the media giant’s plan to become a force in the £15 billion video games sector.
The company has pledged to invest at least $500 million with partners in the area.
Barry Meyer, the chairman and chief executive of Warner Bros, said: “TT Games is very successful and respected in the game development and publishing world.
"They are a great fit for us and the right next step for Warner Bros as we grow into a significant presence in the games space.”
Warner Bros will use TT Games to develop games from its portfolio of media assets.
That move could come as a blow to SCi, the beleaguered British developer behind Lara Croft, in which Time Warner, the Warner Bros parent company, holds a 10 per cent stake.
SCi holds contracts to develop games for Warner assets, including Batman and Looney Tunes.
The growing attraction of video games was emphasised last month when Microsoft’s Halo 3 become the fastest-selling computer game yet.
Halo 3 generated global sales of $300 million (£147 million) in its first week, a sum that confirmed how games titles can rival the money-spinning prowess of Hollywood blockbusters.
Warner Bros entered video games in earnest in 2004 when it acquired Monolith Productions, giving it an in-house development department for the first time.
Last year the group also took a 10 per cent stake in SCi.
It also forged a US distribution deal with Codemasters.
TT Games, which employs about 200 staff and is based in Cheshire and Burnham, was formed two years ago from the merger of developer the Traveller’s Tales and the games publisher Giant Interactive.
It is best known for its success with the Lego Star Wars game, which has sold more than 12 million copies worldwide.
Lego Stars Wars: The Videogame was published in 2005 and was followed in September by the Bafta Award-winning Lego Star Wars 2: The Original Trilogy, which has sold more than six million units.
This week Lego Star Wars: The Complete Saga is scheduled for release.
Other titles in development include Lego Batman: The Videogame and Lego Indiana Jones.
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I looove star wars but lego star wars is the best my dad even got lego star warsii for me on his p.s.p
kaellum, south africa, cape town