Television

TOM Online buys 81% stake in Indiagames

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/05/02/TOM%20Online%20Inc.jpg?itok=0HpYAfDE

MUMBAI: The Indian gaming industry is heating up and how on the world stage. Nasdaq-listed TOM Online Inc, China's leading wireless Internet company, announced today it is acquiring 80.6 per cent stake in Mumbai-based wireless game producer Indiagames Ltd for a cash consideration of $17.73 million.

TOM Online said the acquisition would help "establish its wireless game presence not only in India and China, but also vastly broaden its horizon for growth globally." Indiagames is a game developer and publisher of mobile entertainment content for a wide range of global clients.

TOM Online has acquired around 77 per cent of Indiagames' existing shares from investors including Infinity Ventures, IL&FS Investment Managers and the management team of Indiagames; the remainder of the shares in discussion will be in the form of new shares valued at $4 million. Key management staff including founder-promoter and CEO Vishal Gondal will retain the remaining 19.4 per cent share in the company and continue to run the operations of the company.

For TOM Online, the acquisition will help catapult its integrated Internet products and services onto the world stage with access to truly global partners and distribution channels. This, the company says, is a first for any Chinese portal and will help further enhance its business growth both inside and outside China.

"TOM Online has successfully built a strong leadership in China's wireless Internet sector, which makes Indiagames the most befitting addition to our existing business lines. It will be the driving force behind our game-related services development and expansion in the Indian wireless Internet sector. There are tremendous synergistic opportunities between Indiagames and TOM Online that will enable us to utilize each other's strengths in our respective markets in areas such as content, services, worldwide distribution channels, partnership referrals and market knowledge," says TOM Online chief executive officer and executive director Wang Lei Lei.

Adds Gondal: "Indiagames already has a strong presence in major markets like Europe and North America, and a major market share in India in the wireless gaming segment. With TOM Online's popular online platform and expertise in China's local wireless entertainment business, we will have access to a total of more than one billion mobile phone users and gain a leadership position in the two largest emerging wireless entertainment markets in the world -- India and China."

With over 160 professionals based in Mumbai, Indiagames has established partnerships with all major mobile operators in India and over 100 channel partners globally. Major global distribution channels include Vodafone, O2, T-Mobile, Orange, Verizon, Sprint, Singtel, Airtel, Tata, China Mobile, Optus, Hutch, Amena, Telefonica, O2, Wind and AT&T. Although it is based in India, 86 per cent of its sales this year came from Europe, Asia Pacific, United States, Middle East and South Africa. The company has established diversified revenue streams from mobile games publishing and third-party development and has been profitable for the past two years with a net margin of just under 50 per cent.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/Julia-Phelps.jpg?itok=E9GpScQg
Viacom names Julia Phelps as SVP comm & culture

Viacom Inc. has announced that Julia Phelps has been promoted to Senior Vice President, Communications & Culture. In the newly created role, Phelps will serve on the company’s senior executive team and lead corporate communications, corporate marketing and culture. Most recently, Phelps led...

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/Banatwalla-Shah-Hota_0.jpg?itok=39m1PqgF
Star World: Banatwalla, Shah, Hota & Prasad to battle it out in 'Game of Thrones' debate

MUMBAI: With season 7 set to launch soon, Game of Thrones fever has gripped the world yet again with fans speculating to see who will win the Iron Throne and who will die trying. Adding to this electrifying atmosphere, the country’s leading English entertainment channel, Star World will be hosting...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/Sinclair_1.jpg?itok=N-JSCtdb
Sinclair Broadcast buys Bonten Media in US$ 240m deal

MUMBAI: Sinclair Broadcast Group has announced that it has entered into a definitive agreement to purchase the stock of Bonten Media Group Holdings, and Cunningham Broadcasting Corporation has entered into a definitive agreement to purchase the membership interest of Esteem Broadcasting for an...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/rama%20%281%29.jpg?itok=G_3oexD1
DD ex-presenter Pandey honoured in presence of minister & ex-Prez

Former Doordarshan and All-India Radio news reader and presenter Rama Pandey was conferred with the Vishwa Vageshwari Samman for her immense contribution to the arts in an event in Pune.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/News18-India.jpg?itok=th-FQ1Fn
Khabar Pakki Hai? verifies viral content on News18 India

MUMBAI: With the exponential growth of social media, innumerable photos, videos and stories are shared every second, but there is no way to check the authenticity of all this content. This results in a lot of misinformation impacting opinion and resultant actions by people believing these false...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/22/James-Bond.jpg?itok=dVadgBqC
Is Sony Pictures getting a raw deal as studios war over Bond rights?

MUMBAI: Warner Brothers, Sony Pictures, and 20th Century Fox are among the Hollywood studio majors fighting for the rights to distribute 'Bond 25'. Universal Pictures, Times and Annapurna are also warring for the rights to distribute the forthcoming James Bond movie.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/21/net-jeo%20%281%29.jpg?itok=r8uSHhJC
Nat Geo and Farhan team up, inspire 'water footprint' reduction

National Geographic is all set to lead the way in its endeavour to go further as a brand and inspire change.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/21/tv%20%281%29_0.jpg?itok=EDmHRtaI
Star World to host first live GoT debate on Facebook

With season 7 set to launch soon, Game of Thrones fever has gripped the world yet again with fans speculating to see who will win the Iron Throne and who will die trying. Adding to this electrifying atmosphere, Star World will be hosting India’s first LIVE Game of Thrones debate on Facebook to...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/21/carlo%20%281%29.jpg?itok=THZGMnZ0
Futureworks implements HDR and ACES

Post-production facility FutureWorks is the first in India to set up HDR (High Definition Range) grading and mastering. The post-production house recently installed Sony’s Flagship HDR Monitor BVM-X300, staying at the forefront of technology and offering the most premium.

Television Production House Post Production

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories