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UTV Gaming Revenues At $3.45 M; Plans $75 M Gaming Investments; Fund US Startup, Acquire Mobile Games Aggregator

It looks like BSE listed UTV Software is planning to add Online Gaming to its existing portfolio of console and mobile gaming companies.  UTVs board has "taken on record" proposals regarding $75 million in investments in three key initiatives in the Gaming space: Investment in a prominent US based startup in the Online Gaming space The acquisition of a US based mobile games aggregator (Ed: Will complement Indiagames) Ignition: Increasing its stake in Ignition entertainment from 70 percent to 95 percent by buying out an existing investor. We had written about this earlier. Also planned is an increase investment in Ignition for its three console games being developed in London, Florida and Tokyo. Download UTVs financial results here. UTV has been restructuring its business over the past year, so the earnings results for this quarter aren't really comparable with any…

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