"The Wheel of Time is one of the greatest and well-received fantasy series of all time," said Obsidian chief creative officer Chris Avellone. "Games set in Robert Jordan's universe have the chance to deliver on the epic storylines and the complex characters that the series is known for - and this is one of Obsidian's strengths. It's a natural fit." Obsidian was founded by veterans of Fallout and Planescape: Torment dev Black Isle.

Red Eagle Games has been planning to make a Wheel of Time MMORPG as well as tie-in games for the movies its parent company Red Eagle Entertainment is making.

It's not entirely clear what Obsidian's involvement in the projects will be, as a press release merely states that the two have signed a "services agreement which provides a comprehensive framework for Obsidian Entertainment to work closely with Red Eagle Games' in-house development team to create new video games for the PC, Xbox 360 and PlayStation 3 based on Robert Jordan's best-selling fantasy series."

'Wanted' screenwriter Chris Morgan has signed on as story director for the games, serving on an "advisory council" with others including Tom Frisina of EA Partners--who are distributing the series. There's still no word on when the first game will arrive.