NZ Film has worldwide sales rights, and NZ Film's Kathleen Drumm and James Thompson negotiated the deal with Metrodome's Tom Stewart and Kate Falconer.
NZ Film's Drumm also struck a German deal with Steffan Gerlach of Capelight.
Sarkies wrote the film with Graeme Tetley, based on the true story of a man who shot and killed more than a dozen people in his small New Zealand homestown in 1990. Matt Sunderland and Karl Urban star in the film, which was shot on location in New Zealand's Otago region last year.
Tim White and Steven O'Meagher produced Out Of The Blue, which was backed by the NZ Film Commission, NZ on Air, TV3 and Dendy Films. It is a Southern Light and Desert Road Films production.
'British tragedies like the Hungerford Massacre in 1987 bear a striking resemblance to the tragedy depicted in Out of the Blue 12,000 miles away. I'm sure British viewers will relate to this sadly universal story,' Sarkies said. 'I am delighted to have the film associated with Metrodome whose record in releasing powerful films speaks for itself.'
Tom Stewart General Manager Home Entertainment added: 'Metrodome are very excited at the prospect of bringing this powerfully told story to the UK audience. The film packs a powerful punch and manages to address its subject matter with dignity and sensitivity.'
The film premiered at the 2006 Toronto International Film Festival and IFC/The Weinstein Company acquired North American rights. Dendy released in New Zealand, where it grossed more than $1.1m.