MUMBAI: UTV Interactive, the gaming arm of UTV Software Communications Limited, has acquired an 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 and Indiagames.
With this recent acquisition, UTV achieves presence across all platforms of gaming: console – online – mobile.
UTV Interactive CEO Preneet Malhotra 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 traction 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. With this partnership we have not only received financial backing, but have also joined a group that offers vast expertise and experience in many areas of entertainment," said True Games Interactive CEO Bob Drobish.