Rock band KISS have sold off their name, back catalogue and likeness in an epic $300m (£270m) deal. 

Plans for a movie and ABBA-style avatar show are 'already in the works' after the Swedish entertainment group co-founded by ABBA's Bjorn Ulvaeus has acquired the rights. 

Formed in the 1970s by Paul Stanley, Gene Simmons, Ace Frehley and Peter Criss, KISS became glam metal icons through their iconic face paint, stage theatrics and hard rock riffs.

Some of their breakout hits include songs like Rock And Roll All Nite (1975) and I Was Made For Lovin' You (1979).

Ulvaeus' Pophouse said in a statement that the deal would enable them to 'further develop and amplify the unique KISS legacy worldwide.'

It said it had acquired KISS' 'music catalogue, brand name and likeness -- including the world-famous face paint designs -- as well as trademarks of the iconic American rock band.'

The financial terms of the deal were not disclosed.

'KISS is one of the most recognised and iconic bands in the history of music,' said Johan Lagerlof, head of investment at Pophouse.

'They redefined the concept of rock shows and have always taken their artistry to new unchartered territories.'

KISS first introduced fans to their new virtual selves back in December following the final performance of their End of The Road World Tour. 

The four members hinted at the new era of the rock group as they gave fans at their Madison Square Garden shows a glimpse of four avatars that will essentially fill in for band members Gene, 74, Paul , 71, Eric, 65, and Tommy Thayer, 63, going forward.