Pyramid Saimira acquires UK-based Aurona

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Hyderabad, Jan 24 (UNI) Pyramid Saimira (PSG), a fast growing entertainment group, today said it had acquired a majority stake in Aurona Technologies Limited (ATL), a video game and interactive entertainment software company headquartered in London.

ATL CEO Santosh Pillai would continue in his incumbent role and take over as Director of Pyramid Saimira Production Services Limited, ''to integrate the operations of both the companies,'' a company release here said.

ATL has a development centre here and a representative office in Los Angeles. The company delivers full game development from India for platforms such as Sony Playstation 2 Console, Nintendo DS and PC.

Pyramid Saimira Group Managing Director P S Saminathan said it had acquired nearly 100 per cent of ATL from the promoters and a UK-based hedge fund to enter the high-growth, high-margin animation and gaming industry currently estimated at 35 billion US Dollar.

PSG plans to acquire two to three companies in 2008 to enlarge its footprint.

''We are focusing on creating a world class vertical on post production-animation-gaming and this acquisition brings not only the existing knowledge base and customer base, but more importantly, high quality management bandwidth, with international exposure,'' he said.

PSG plans to raise 400 million USD by listing two companies on Indian exchanges and another on the London bourse.

It plans to produce to 70 films with Rs 800 crore in FY 2008-2009 up from 13 films currently produced by it.

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