Movies

Mukta Arts picks up 26% in Maya Digital Studios

MUMBAI: Subhash Ghai-promoted Mukta Arts has picked up a 26 per cent stake in Maya Digital Studios, an acquisition that would allow the movie production company a presence in computer animation and digital VFX.


? We have acquired a 26 per cent stake in Maya,? Mukta Arts consultant and advisor Ravi Gupta told Indiantelevision.com.


While refusing to give out financial details of the deal, Gupta said the amount would be paid to the Ketan Mehta-promoted company over six months.


Mukta Arts will nominate one person on the board of Maya Digital Studios. "We will be doing this within two months. And with the deal in place, Mukta will have a post-production and VFX outfit that we were bereft of all this while,? said Gupta.


Maya Digital Studios already has stakeholders in Mehta, his wife Deepa Sahi and American computer graphics veteran Frank Foster.


Maya will continue to do outsourced work for major banners across the world and will also look at creating "intellectual property" of its own. It will soon add studio facilities at Film City, Mumbai, and Goa.


Founded in 1996, Maya Digital Studios has worked with global clients to deliver projects in television, film and game animation. The studio has worked on projects for BBC, Ragdoll, Rainbow, Mike Young Productions, Electronic Arts, Sony, Activision and Google and is currently working with Brown Bag, Big Screen Entertainment, and VGI Entertainment. The studio?s first theatrical 3D CGI feature ?Ramayana The Epic released in 2010. It is also partnering on co-productions to develop IP for the global TV market.


Mukta Arts is working on new initiatives to scale up the company‘s turnover. Indiantelevision.com recently reported on the company‘s plans to foray into the multiplex business for which it has earmarked an investment of Rs 500 million over a 12-month period.

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