UTV acquires majority stake in US-based True Games Interactive

Mumbai Aug 19 (UNI) UTV Interactive, the gaming arm of India headquartered media&entertainment group, UTV Software Communications Limited, has entered into agreement to acquire 80 per cent stake in True Games Interactive, a US-based online game publishing start-up.

This acquisition is in keeping with UTV's strategy of in-organic growth that the company has achieved in the past 18 months in the Interactive vertical through acquisitions of UK-based console developer, Ignition Entertainment Ltd, &Indiagames Ltd, India based mobile gaming company.

With this recent acquisition, UTV achieves presence across all platforms of gaming: Console, Online and Mobile.

Preneet Malhotra, CEO, UTV Interactive said ''Online gaming is the platform of the future once broadband penetration reaches across world markets. While this phenomenon is led by Asia, it has started gaining atttraction in the west as well. The True Games acquisition gives UTV not only presence in the international online gaming space, both in content creation and publishing but is also a major step towards achieving UTV's 360 degree gaming vision.'' ''The benefits and opportunities that come with joining the growing UTV Interactive family are endless,'' said Bob Drobish, CEO of True Games Interactive.

UNI GS OBB VKG1745