Tom Clancy sells his name to Ubisoft for $30 million @ Gaming Target

Written by John Scalzo on March 20, 2008

News: He shall now be known Military Fiction McWriter.

Ubisoft has announced they have reached a deal with author Tom Clancy to pay $30 million for the use of his name in perpetuity. The agreement, which comes on the heels of the release of Tom Clancy's Rainbow Six: Vegas 2, will give Ubisoft "all intellectual property rights to the name 'Tom Clancy'".

The deal gives Ubisoft the right to use Clancy's name on any game they may come up with in the future. And it also means the company is now free of making any royalty payments to the author. Clancy's name may also be used on items related to the games, such as books, movies and merchandising.

"Acquiring the perpetual property rights of the Tom Clancy name for video games and related projects is a major event,Ф stated Yves Guillemot, Chief Executive Officer at Ubisoft. "The future of our industry lies in our capacity to create and develop brands that captivate consumers and that present a myriad of opportunities for the full spectrum of entertainment, be it video games, books, movies or other media. The Tom Clancy brand is recognized around the world for offering exciting video games, films and books. Capitalizing on the strong franchises that we've built over the past 10 years, we will take the Tom Clancy game brand to the next level of the global entertainment industry."

We'll have more soon.