Red Mile To Acquire IR Studios (Heroes of the Pacific)

Publisher and developer Red Mile Entertainment (Sin City) has announced a definitive agreement to purchase Melbourne based IR Gurus; under the terms of the definitive agreement, IR Gurus would become a wholly owned subsidiary of Red Mile. Founded in 1996, and with approximately 100 employees, IR Gurus is currently developing the latest iteration in Red Mile's highly acclaimed Heroes flight combat franchise, Heroes Over Europe, for next-generation video game platforms. As previously detailed in an earlier Q&A with Red Mile chairman and CEO Chester Aldridge, the studio created the first title in the franchise, Heroes of the Pacific, for PlayStation 2, Xbox 360 and PC. IR Gurus previously produced several titles, including the AFL series of Australian Rules Football games, and the recently-released Heatseeker air combat title. "With the expected acquisition of IR Gurus, we will own our first globally recognized original IP franchise and acquire a very talented video game development studio," said 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." The transition, subject to customary closing conditions, is expected to close prior to the end of this year. IR Gurus CEO Mike Fegan is expected to retain his position and to oversee Red Mile's international publishing operations.Financial terms of the transaction were not disclosed. "We have enjoyed a strong relationship with Red Mile for several years," Feegan said. "Red Mile was an early believer in our studio and our Heroes of the Pacific title. We are extremely happy to join an emerging publisher like Red Mile and assist them as they build a portfolio of world-class franchises."