Hollywood actor Jake Gyllenhaal will star in and produce an upcoming heist thriller titled Cut and Run. The news comes as New Republic Pictures picked up the project after competitive bidding.

Cut and Run will have a script written by John Glenn (of Eagle Eye-fame). The film's official logline reads, "A group of thieves who use high-powered speedboats to rob superyachts steal the wrong thing from the wrong group of people."

Gyllenhaal will also produce the film through his Nine Stories Productions, along with New Republic's Brian Oliver and Bradley Fischer. Writer Glenn is also on board to produce.

Notably, Gyllenhaal and New Republic collaborated for the upcoming Michael Bay action thriller Ambulance. New Republic and Nine Stories are also joining hands for an adaptation of Robert Kirkman's graphic novel Oblivion Song.

Gyllenhaal, who was last seen in the Netflix thriller The Guilty, will be seen soon in Ambulance. His upcoming projects also include the thriller drama The Interpreter.