|
MUMBAI:
UTV Software Communications has announced financial closure
of its acquisition of online and mobile games company Indiagames.
UTV
will own about 60 per cent of Indiagames. TOM Online, China's
leading wireless company, has exited from Indiagames. Other
investors like Adobe Inc. and Cisco Systems Inc. in addition
to management shareholders will continue to maintain their
stake in Indiagames.
The
completion of the deal paves the way for the formal integration
of Indiagames with UTV which has presene in four verticals
- movies, TV content, broadcasting and interactive (animation
and gaming).
UTV
had earlier acquired a controlling stake in Ignition, another
international gaming company. With Indiagames, UTV now has
a presence across console and handheld games development and
global publishing, global mobile games publishing and an online
PC games distribution model in India.
Indiagames founder-CEO Vishal Gondal said, "We have been
working very closely and successfully with UTV on a number
of initiatives over the last few months. We look forward to
maximizing the benefits arising from the various synergies
from our association."
|
