Disney is also buying out UTV Software a film, television and gaming conglomerate which is a majority shareholder in Indiagames. The buyback process hasn’t even begun yet, and could take months to complete, with approvals and an open offer pending.
In 2006, UTV invested Rs. 68 Cr to acquire 51% stake in the company and later increased it to 58% to enter into the gaming segment. It later acquired Ignition Entertainment Ltd and US based True Games.
Indiagames, founded in 1999, is one of the earliest Indian companies in the mobile and online gaming segment. It has around 250 employees and a base of 60,000 users of games on Demand subsciption model. It is also a distributor of games of Electronic Arts.
It competes with Zapak.com, Reliance Group’s gaming firm and Games2Win, founded by Alok Kejriwal.
Nomura Research Institute has acquired 25.1% stake in Market Xcel Data Matrix Pvt Ltd for an undisclosed amount. This acquisition will help Nomura expand it's research and consulting business activities to India.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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