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.”