Convergence Entertainment has acquired the live-action rights to the video game franchise "Gungrave," also known for an animated series in 2003-2004. The story revolves around a crime syndicate member reborn to take revenge against his former colleagues and the best friend that betrayed him.

The original game was developed by Red Entertainment and designed by mangaka Yasuhiro Nightow. Tim Kwok, the head of the Bevery Hills and Asia-based Convergence, will produce the film with Red's Yasuaki Nagoshi. The proposed budget is between $30 and $35 million.

Convergence has already licensed other video game franchises, including "The King of Fighters." That movie, which stars Sean Faris and Maggie Q, is currently in post-production.