Feb 3, 2012

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Disney To Acquire UTV Software Communications, Ignition Entertainment

Disney To Acquire UTV Software Communications, Ignition Entertainment

Disney has acquired Ignition parent company UTV Software Communications, in hopes that the acquisition will expand their reach in India. This news comes after reports that circulated last year stating that Disney had intentions to buy out UTV, which held around 50.4 percent of the share capital for the company.

Disney now states that it will acquire a controlling interest through a subsidiary while delisting UTV shares from the stock market, allowing the newly bought company to integrate with Disney’s current operations.

With this acquisition, Disney also obtains the rights to Ignition Entertainment, publisher of The King of Fighters XII, and Indiagames, one of the leading mobile games companies in India.

UTV Chief Executive Officer and now managing director of Disney India, Ronnie Screwvala, stated:

“In combining the creative capabilities of each company we will integrate a large stable of vibrant brands and franchises in the branded entertainment space.¬†With the middle class expected to grow from 50 million to more than 500 million people by 2025, this market offers huge potential for us to deliver quality branded entertainment to consumers.”

With the recent acquisition of UTV, do you think Disney will become a bigger player in the video game market? Sound off in the comments section below.

[Source: Gamasutra]