The deal, terms of which were not disclosed, combines the two biggest and most popular mixed-martial-arts franchises in Zuffa-owned UFC and Pride.
Both Pride and UFC will remain separate franchises and retain their respective champions, but fighters from both franchises will battle each other in an as-yet-unscheduled "Super Bowl" pay-per-view event, according to UFC president Dana White.
"The only chance you’ll see in Pride is that they’ll fight the UFC fighters in mega-fights," he added. "This is a history-making event, and we will put on events that will blow people’s minds."
With other MMA franchises like the International Fight League competing for viewer eyeballs, White said the deal solidifies the UFC’s No. 1 global status in the category.
"The future of mixed martial arts because of this combination will be bigger and brighter," he added. "What we’ve created is a global platform [for the sport]."