Mukta Arts acquires 51pc stake in Coruscant Tec

Mumbai, Sep 19: Mukta Arts, promoted by filmmaker Subhash Ghai, has acquired 51 per cent controlling stake in Chennai-based Coruscant Tec, a value added services company. Coruscant Tec, is a player in the Mobile Value Added Services (MVAS) and provides content and applications related to the fast growing MVAS space like -- ringtones, wallpapers, Video on Demand, applications, m-comics, mobizines, mobiepisodes and java games.

''The company is undercapitalised and was seeking investors, who could create and aggregate content, which is the key to this business. For Mukta Arts, which has access to short content created by Whilstling Woods students and Audio and Film content, Coruscant was a good platform. Mukta Arts has the option of acquiring the balance 49 per cent stake also,'' the Company said in a release to the Bombay Stock Exchange today.

The Company already has several tie-ups in place for content aggregation as well as for distribution of content through major Telcos.

UNI