UTV Software Communication acquires Indiagames and Ignition Entertainment
December 11th, 2006 Leave a comment Visited 341 times, 1 so far today
UTV Software Communication acquires Indiagames and Ignition Entertainment
Mumbai-based UTV Software Communication has announced their plans to enter the gaming industry. The company has acquired Mumbai-based Indiagames and UK-based Ignition Entertainment.
These two deals are worth around Rs 128 crore and this makes them the India’s largest gaming and animation company.
UTV has acquired a 51% stake in Indiagames and 70% in Ignition. Ignition interestingly is currently developing a game for the recently launched Sony Playstation 3 gaming platform.
They believe that these two acquisitions would bring in additional revenues of Rs 100 crore in the next twelve months.
A company representative added: “We are negotiating a few acquisitions in the gaming space. We can announce the deals only after we have signed them.”
News, Sony, Sony PlayStation, Sony Playstation 3, Videogame Developers
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