UTV Software to acquire India Games Ltd, UK based Ignition Entertainment Ltd

UTV Software Communications Ltd has announced that the Company has:

1. Entered into an arrangement with Indiagames Ltd and its promoters for acquisition of controlling equity stake in Indiagames Ltd, a Mumbai based mobile and online gaming company for a consideration of around Rs 68 crores.

2. Entered into an arrangement with Ignition Entertainment Ltd and its promoters for acquisition of controlling equity stake in Ignition Entertainment Ltd, a UK based company involved in developing console games for a consideration of around Rs 60 crores.

3. Initiated development of animation movie projects with total investments to the tune of Rs 135 crores over a period of next three years.

Source : Equity Bulls

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