Red Mile to acquire IR Gurus

Red Mile Entertainment announced it has entered into an agreement to purchase the remaining outstanding shares of IR Gurus.

Under terms of the agreement, Melbourne-based IR Gurus would become a wholly-owned subsidiary of Red Mile. The transaction is expected to close prior to the end of the year.

"With the expected acquisition of IR Gurus, we will own our first globally recognized original IP franchise and acquire a very talented videogame development studio," said Red Mile's chairman and CEO Chester Aldridge. "The synergies of this combination are significant, as we expect to secure high-quality and scarce development resources for our franchise titles and improve cost control by bringing development in-house."

IR Gurus was the developer of Heroes of the Pacific, published by Red Mile, and is currently working on Heroes over Europe, the next game in the franchise.

Earlier this year, Red Mile entered into a multi-year, worldwide license agreement to develop and publish videogames based on the Sin City series of graphic novels.

Financial terms of the transaction were not disclosed.