Mukta Arts picks up minority stake in Maya Digital Studios

Mumbai, Feb 7 (PTI) Subhash Ghai-led Mukta Arts haspicked up a strategic stake in filmmaker Ketan Mehta-promotedMaya Digital Studios which does computer animation and digitalVFX work.

Mehta said the deal involves Mukta Arts picking up a"substantial minority stake" in his company, Maya DigitalStudios, and the investment is strategic in nature.

"The deal creates many synergies. Mukta does not havea picture post production or VFX division, while it works wellfor Maya as well as we get to work with a company like Mukta,"Mehta told PTI today.

He did not disclose the financial details of the deal.

Mukta Arts, a film production house listed on the BSE,will get to nominate one person on the Board of Maya DigitalStudios as a part of the deal, he said.

Besides Mukta Arts, Mehta said, the company hashimself, his wife Deepa Sahi and veteran American computergraphics veteran Frank Foster as shareholders.

Post-deal, Maya will continue doing cutting-edgeoutsourced work for major banners across the world and willalso look at creating "intellectual property" of its own,Mehta said.

Maya currently has a development centre in Mumbai andhas drawn up plans to have one more in Goa, he said.