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Disney to take over leading Indian games developer, IndiaGames

Mumbai, Oct 8 2011: Business Standard reports that the the Walt Disney Company has acquired all the equity Indiagames the leading Indian games developer, and part of the UTV group of companies, for an estimated $80-100 million. Disney already had a 58 per cent stake in Indiagames, with the balance held by founder-CEO Vishal Gondal and investors that include Cisco and Adobe.
Indiagames, founded by Gondal in 1999, is considered a leader in the Indian games developer arena, particularly mobile games. It was acquired by the media and FIM/TV group UTV in 2006. Earlier in 2011, Walt Disney announced it was taking over UTV Software where it owned a 50.44 per cent stake. Link to BS story http://www.business-standard.com/india/news/walt-disney-acquires-allindiagames-in-80-100-mn-deal/451729/