MUMBAI: In a first of its kind dealing between Tips Industries and Nimbus Motion Pictures, the latter has acquired all distribution rights of Tips’ forthcoming movie Naqaab. As per the deal Nimbus will distribute Naqaab theatrically in India and overseas. The company also holds the worldwide home video and satellite rights.

While Nimbus will retain the rights for a few territories, it will sell the remaining territories’ rights. It is further learnt that Mumbai based distributor Rajesh Thadani will be supporting the Nimbus operations for various territories.

Elaborating on Nimbus’ foray into distribution Nimbus Motion Pictures vice president Akhauri P Sinha says, “More than a year of planning and development has gone into the filmed entertainment business, starting with the distribution of films like Gangster, Kalyug, Killer, and Woh Lamhe, among others. Naqaab is part of this natural progression. We are confident that, given our experience in sports, we can successfully raise the bar in the films right management business.”

Nimbus will gradually expand operations and set its own distribution offices in other parts of country.

Industry sources inform that the deal between the two took place for an amount close to Rs 200 million (Rs 20 crores). Tips managing director Kumar Taurani, refused to confirm the amount. However, commenting on the partnership, he said, “Nimbus is a known entity in this industry and we were very keen to work with them. This movie also marks their entry into the global rights management space, which Nimbus has the depth of expertise in. We are very sure that this venture will be a success and look forward to strengthening our association with them.”

Naqaab is directed by Abbas Mustan and stars Bobby Deol, Akshaye Khanna and Urvashi Sharma. The film is slated for worldwide release on 13 July.

Nimbus has been active in the distribution space since 2005 with the distribution of films like Gangster, Kalyug, Killer, and Woh Lamhe in Delhi and Mumbai territory.