10tacle to acquire 29 per cent stake in Climax

10tacle Studios is to acquire a 29 per cent stake in UK developer Climax, as the two companies announce plans to jointly develop new videogame properties.

The studios are working together on two titles in the action and fantasy genre, as well as the recently announced online world for MTV, due to launch in 2008.

"The agreed cooperation of our companies will form one of the biggest independent development partnerships worldwide for next-gen, PC, video and online entertainment," commented Michele Pes, CEO of 10tacle.

"The two companies complement each other perfectly on the development and production side. We are very glad that we have found such an experienced partner to strength our development capacities and we are currently seriously auditing further possibilities to integrate the Climax Group into our organisation."

10tacle recently acquired Hungarian developer Stormregion, along with its Codename: Panzers franchise.

UPDATE: This deal did not go ahead, and so Climax and 10Tacle remained completely separate entities.