Pyramid Saimira Acquires Game Development Co Aurona Techonogies
By Nikhil Pahwa - Thu 24 Jan 2008 03:57 AM PST
Pyramid Saimira has acquired a majority stake in Aurona Technologies, a game development and interactive entertainment software company headquartered in London. They develop content for the PS2, Nintendo DS and the PC. Also, they own the IP of a location based wireless social networking community, and the IP for six mobile games...not much.
P S Saminathan, MD of the Pyramid Saimira Group is bullish, saying that “This marks the entry of Pyramid Saimira in the high-growth, high-margin animation & gaming Industry.” Last year, the group had announced plans for a new media subsidiary, and IPTV services; they operate digital theatres (around 256 screens in Tamil Nadu), and radio stations. They’d also announced plans to set up a content fund for $25 million and would raise $150 million in India. The company says that acquisition will help the company expand into post-production, animation and gaming, and utilize their existing content library. Aurona has a development centre in Hyderabad, and an office in Los Angeles. Aurona will be integrated into Pyramid Saimira Production Services Ltd, and Santosh Pillai, CEO of Aurona Technologies will join the latter a Director.
Update: The idea appears to be to set up gaming zones in theatres. Saminathan has told the Hindu: “Of the six million sq ft area we have in 800 screens, only 2.2 million is being used for box office. We will set up interactive gaming facilities in at least 100 theatres in the next few months.”
Posted in: Gaming, Mergers & Acquisitions
