Universal Pictures has picked up the project for a film on the life of Apple co-founder Steve Jobs, after Sony Pictures decided to exit last week. The studio is reported to have paid more than $30 million for the title, according to the Hollywood Reporter.

Actor Michael Fassbender from "Prometheus" is set to play Steve Jobs in the film, a role which has rotated between several big-name actors. Christian Bale and Leonardo DiCaprio have both been attached to the project in the title part.

The film follows the events described in Walter Isaacson's biography of the late technology entrepreneur, adapted for the screen by Oscar-winning writer Aaron Sorkin. Sony had purchased the rights to create a film from Isaacson's biography immediately following Jobs' death in 2011. It is unclear why the studio pulled out, but, with no explanation from Sony, speculation is that it was difficult to fit the film into the studio's schedule.

The drama will be directed by Danny Boyle and produced by Scott Rudin, Mark Gordon and Guymon Casady. Director David Fincher was originally set to direct the project but pulled out of the running in April.

Jobs' life was full of dramatic turns, much of which is included in Isaacson's biography. After founding Apple with Steve Wozniak in the late 1970s, he rose to the top of the electronics industry. However, the following decade, he was driven out by the company in a boardroom vote.

Apple brought the charismatic man back in the 1990s after the company ran into trouble, where he presided during the company's most successful product launches and revolutionary technology. Jobs oversaw Apple as it became the most valuable U.S. company and helped produce the wildly popular iPhone. He died at the age of 56 after struggling with a long battle with cancer.