Universal Pictures has renewed its deal with Robert De Niro's Tribeca Prods. and will develop "Little Fockers," the third installment of the lucrative comedy franchise.

Director Jay Roach and the producers are presently planning the film's story with Larry Stuckey officially penning the script reports Variety.

The plan is for all the principals from the previous film to return - DeNiro, Blythe Danner, Ben Stiller, Teri Polo, Barbara Streisand and Dustin Hoffman.

Both "Meet the Parents" and "Meet the Fockers' have pulled in a total of $845 million in worldwide ticket sales.