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Mergers & Acquisitions | 17 January 2011

Founder Vishal Gondal May Buyback The Stake In Indiagames From UTV

by Charmi Gutka
Founder Vishal Gondal May Buyback The Stake In Indiagames From UTV
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Founder of Indiagames Limited Vishal Gondal, along with existing investors Cisco and Adobe are planning to buy back the stake in the company from UTV Software Communications Ltd for around$80- 100 Mn.

In 2006, UTV invested Rs. 68 Cr to acquire 51% stake in the company and later increased it to 58%, to enter into mobile gaming segment.

Transaction Reference: Business Standard


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