James Wan, who directed the first two in the Insidious franchise but had not signed onto do the third one, recently revealed that Insidious 3 had finally found its director.

While James Wan directed the first two in the low-budget franchise teaming up with screenwriter Leigh Whannell, he will not be coming aboard this ship although his blessings remain with the film.

Wan tweeted on April 25 that they had finally found their man for Insidious 3, though he did not give away who it was:

"We found our director for INSIDIOUS CHAPTER 3! I cannot be more excited. Stay tuned."

Director James Wan is currently shooting Fast and the Furious 7.

Furthermore, earlier this month Whannell dropped a news bit for fans stating that Insidious 3's plot will be similar to the first film in the franchise and not the second.

"Insidious 3 is a lot more like part one than two. I'm working on it right now, so thought I'd tell those who care where it's headed," Whannell tweeted on April 17.

Insidious: Chapter 2 was released on Sept. 13 and topped the U.S. box office scoring $41.1 million over in its opening weekend. The film stars Patrick Wilson, Rose Byrne, Lin Shaye, Ty Simpkins, and Barbara Hershey reprised their roles from  the first film in the series. 

The first film followed the story of the haunted Lambert family, whose son inexiplicably enters a comatose state and becomes a vessel for demons. In Insidious: Chapter 2, the married couple try to explore the secrets that tie them to the paranormal world and the demons that possessed their son.

Entertainment One, FilmDistrict, and Sony Pictures Worldwide Acquisitions will be developing the third chapter of the micro-budgeted franchise. Jason Blum (Blumhouse Productions) will be co-producing the third film with Oren Peli (Paranormal Activity). Steven Schneider, Brian Kavanaugh Jones, Peter Schlessel, Lia Buman and Xavier Marchand will come on board as executive producers.

The first installment in the franchise, Insidious, was made for only $1.5 million and released in 2010. The film went on to gross $97 million worldwide. Insidious: Chapter 2 was made for $5 million.

Watch the trailer for Insidious: Chapter 2:

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