DreamWorks Studios has acquired the feature film rights to EA's Need for Speed franchise, the two firms announced today.

Brothers George and John Gatins developed the original story with George writing the screenplay.

The screenplay is based on the Need for Speed series, but is not based on an individual game.

EA will produce along with John Gatins and Mark Sourian. Scott Waugh (Act of Valor) is attached to direct, and the project will be fast-tracked at DreamWorks with a target production start date for early next year, for a 2014 release.

The film is described as a fast-paced, rooted in the tradition of the car culture films of the 70s, but remaining faithful to the spirit of the Need for Speed games.

"I'm excited about getting back into the creative trenches with John and George Gatins and my partners at EA to bring to life an exhilarating script based on an epic video game that seems to have been made for the movies," said Steven Spielberg, DreamWorks Chairman. "This is a big piece of business for DreamWorks and we are grateful to Frank Gibeau, Pat O'Brien, Kevin Maher and John and George for choosing us to deliver their goods."

The Need for Speed franchise has sold more than 140 million units worldwide, generating an estimated $4 billion in revenue.