Hungarian-based developer, ZEN Studios whose previous work includes Pinball FX for Xbox live arcade and Flipper Critters for Nintendo DS, has secured the rights to 'The Punisher' from Marvel Entertainment.

With it, the studio will be developing the first ever arena-based first-person shooter exclusively for the Playstation Network.

The Unreal Engine 3-powered, Punisher: No Mercy will be inspired by the Punisher’s rich comic book history, and will allow players to choose from an eclectic mix of Punisher allies and villains. Battle arenas span from shipyards rife with contraband to the “birthplace” of the Punisher’s archenemy, Jigsaw, and up to eight players can blast away at each other in a variety of solo and team-based missions.

ZEN says that the game was designed with "fast-paced online multiplayer FPS action in mind."

“The ZEN developers are huge Marvel fans, and the Punisher is certainly one of our favorite characters,” said Zsolt Kigyossy, CEO of ZEN Studios. “With No Mercy, we’re creating gameplay unlike anything else found on PSN. This includes unique features like character-specific taunts, many of which were pulled directly from the comics.”

The single-player Story mode will feature exclusive artwork from acclaimed Marvel artist Mike Deodato.

A release date has yet to be announced.