MUMBAI: Pyramid Saimira Theatre Ltd has acquired a majority stake in UK-based Aurona Technologies Ltd, on 24 January, 2008.
Aurona Technologies is a video games and interactive entertainment software company headquartered in London. Aurona Technologies Ltd CEO Santosh Pillai will continue in his incumbent role and will also take over as director of Pyramid Saimira Production Services Ltd, thereby integrating the operations of both the companies.
Pyramid Saimira Group managing director P S Saminathan said, “We are extremely happy to announce this strategic acquisition of Aurona Technologies Ltd. This marks the entry of Pyramid Saimira in the high-growth, high-margin animation and gaming industry. Since our group has access to a huge content library, we will be able to cross-exploit the content properties. Further we are focused on creating a world class vertical on post production, animation, gaming and this acquisition brings not only the existing knowledge base and customer base, but more importantly, high quality management bandwidth, with international exposure.”
Pyramid Saimira Group director N. Narayanan welcomed the employees of Aurona Technologies into the Pyramid Saimira family, which has now crossed more than 15000 across the globe. “This acquisition is in keeping with our vision at Pyramid Saimira to be the world’s leading entertainment company. This acquisition also marks our entry into the European market, given that there is a lot of potential and synergy there for all the businesses we are involved in. With this, Pyramid Saimira Group is present in three continents.”
Aurona Technologies Ltd has a development centre in Hyderabad and also has a representative office in Los Angeles. The company delivers full game development from India for platforms such as Sony Playstation 2 console, Nintendo DS and PC. Aurona has progressively moved up the value chain, and has built up the know-how and potential IPs in Racing, Lifestyle and First Person Shooter gaming that can be leveraged internationally and in India. The company owns the IP of a location-based wireless social networking community and also owns IP on a portfolio of six mobile games.
Keynote India Capital Market acted as advisors to Pyramid Saimira in concluding the acquisition, Capital Plc London acted as advisors to Aurona Technologies.
In November last year, the company acquired 51 per cent stake in Mumbai-based advertising company Dimples Cine Advertising and Dimples Cine Activations. It also forayed into the US market by acquiring Texas-based theatre chain FunAsia through its subsidiary Pyramid Saimira Entertainment America.
