Kidulthood director Menhaj Huda, Pulse Films and their joint venture Foton Films have acquired the option to turn the PSP game into a movie.
Released in 2006, the action title featured a graphic and stylised version of London's underworld. The film adaptation will see characters and gangs enveloped in a cat and mouse plot.
"We are very excited about securing such a great piece of IP in Gangs of London for development into a feature film," said Pulse managing director Thomas Benski.
"The popularity of the game means that there is already a strong fanbase, and the content lends itself to a fantastic story on screen. The project continues Pulse's move in the feature film world and Huda is the ideal directing partner for this venture."
Huda added: "Gangs of London was an iconic game which both Thomas and I were huge fans of - bringing it to the big screen is going to be a massively exciting task."
Gangs of London, developed by The Getaway studio Sony Soho, was one of the best-selling PSP games in 2006.
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