CDI, Singapore’s Golden Games to invest Rs 450 mn in gaming software studio

MUMBAI: Compact Disc India (CDI), an integrated media and entertainment company, has teamed up with Singapore’s Golden Games Pte Ltd to set up a developing and publishing gaming software studio at New Delhi.

The project cost will be around Rs 450 million, CDI chairman Suresh Kumar tells

The gaming software, to be applicable on all platforms like mobile and internet, will be outsourced to Laser Infomedia which is owned by the promoters of CDI.

"We aim to complete the project by the end of this fiscal. We are currently structuring the funding," says Kumar.

The equity financing will be to the tune of Rs 200 million while the balance will be supported through bank debt.

The Singapore company will invest Rs 80 million while CDI will put in Rs 30 million.

Laser Infomedia will raise Rs 90 million to complete the equity part of the funding. "The promoters of Infomedia plan to invest in the project. We are also looking at raising capital from private equity," says Kumar.

As part of the restructuring plan, CDI has decided to focus entirely on animation. The Chandigarh-based company has also decided to withdraw from the production of live-action films. Earlier, CDI had announced that it was getting into producing live-action films with Guru of Sex and Playing with the Enemy.


“We have been with the animation film industry since the past six years and we need more time to settle down with our core business, which is outsourcing work. We have decided not to diversify into other areas till such time that we consolidate our animation business. We are retrenching from production of live-action films,” says Kumar.

Latest Reads
HARMAN announces Priyanka Chopra as global brand ambassador

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer and enterprise markets, today announced that actress, singer, producer and philanthropist Priyanka Chopra has been named a global brand ambassador for the...

Technology Hardware Components
Etere HSM expands interoperability with Grass Valley

Etere HSM features an integration with Grass Valley that improves interoperability, streamlines connectivity, enables faster content processing and includes deep archive capabilities. Etere introduces a new integration layer between Etere Hierarchical Storage Management (HSM) and Grass Valley...

Technology Hardware Components
Pune Times joins hands with the Pune Police to launch the 'City Safe' app, as part of #MakeMyCitySafe initiative

Pune Times, city supplement of leading media house, The Times of India, has joined hands with Pune Police to support an initiative for women’s safety in the city. Pune Times has launched its campaign #MakeMyCitySafe as a big shout out to the youth of Pune to come together to make the city safer...

Technology Software Applications
HAL Robotics ropes in Navanit Samaiyar as board member and advisor

MUMBAI: HAL Robotics has roped in Navanit Samaiyar as its board member and advisor. Samaiyar has a record of setting up, scaling and transforming businesses across a very wide cross section of industries spanning from IT/ ITeS to steel, telecom, engineering goods, earthmoving machinery, logistics...

Technology Hardware Components
Republic TV launches Android app

MUMBAI: Republic TV is on a roll. From rocking the ratings chart in launch week itself to going international, the channel has added one more accomplishment to its kitty. The Republic TV Android app is now live.

Technology Software Applications
STB cos in India, China enhancing features, providing customised solutions, Technavio enlists top vendors

MUMBAI: The global STB market is characterised by intense competition as the market is saturated in developed countries. The market share of these players is declining because of the entry of new players. The STB companies are enhancing the features of STBs and providing customised solutions to...

Technology Hardware Set-top Boxes
India's PFT Clear Media ERP suite to help US' PBS content delivery

MUMBAI: Prime Focus Technologies (PFT), the technology arm of Prime Focus, announced that its CLEAR™ Media ERP Suite has been selected by Public Broadcasting Service (PBS) to enhance their Network Operations Center (NOC) ecosystem efficiencies and sustainability, with the objective of reducing...

Technology Software Applications
Broadcasters, OTTs to gain as Via adds xHE-AAC at special rate

MUMBAI: Via Licensing Corporation, a intellectual property solutions provider, has announced the upcoming availability of Extended High Efficiency AAC (xHE-AAC) as part of the Advanced Audio Coding (AAC) patent pool. The expanded patent pool licence will be available at no additional cost to...

Technology Software Applications
Tata Comm to deliver Motorsport videos on global devices

MUMBAI: Tata Communications will now deliver video content for viewers' all devices over its global network. The two have partnered to power the growth of the network’s internet television platforms.

Technology Software Applications

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories