UTV Software to buy out local, UK gaming Co

New Delhi, Dec 8: Production and entertainment company UTVSoftware Communications Ltd is all set to make strides into gaming andhas said it will acquire controlling equity stake in UK-based consolegaming company and a Mumbai-based mobile and online gaming company forRs 128 crore.

The company will pay close to Rs 60 crore for its stake in the UKfirm Ignition Entertainment Ltd, while UTV Software will have to payabout Rs 68 crore for picking up a controlling stake in Indiagames Ltd,a Mumbai-based mobile and online gaming company.

In addition, the company has also initiated development ofanimation movie projects with total investments of Rs 135 crore overthe next three years, it said in a statement today.

UNI