U.K. film distributor Metrodome has purchased Target Entertainment for £800,000 ($1.3 million). The deal includes Target's distribution and consumer products interests, as well as its film and entertainment production labels.

Metrodome plans to invest £3 million ($4.7 million) in Target, which holds the licensing rights to Sony PlayStation software IPs in the U.K. and EMEA, including LittleBigPlanet, Invizimals, God of War and EyePet, as well as girls' fashion/lifestyle brand Brit Chicks, preschool series "Fluffy Gardens" and live-action comedy series "Emu."

"Target's refinancing process has been a tough and lengthy one, however the superb outcome of achieving such strong financial backers for the business in Mark Webster [chairman and chief executive officer of Metrodome] and Metrodome makes it more than worthwhile for the company's client base and staff," says Allison Rayson, founder of Target Entertainment. "Target's consolidation into the Metrodome group will provide the company with more firepower for rights acquisitions and with an enhanced back office service. The two companies together will create a market-leading independent rights business with a much broader offering domestically and globally. I am thrilled to be working with Mark Webster and his team, and excited about the significant potential ahead."

Rayson will continue as chief executive officer and has joined the Metrodome board. Target's drama production arm Greenlit is not part of the acquisition.