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Updated: Disney To Buy Indiagames Promoters Stake For Rs 94.56 Crore; What Will Change?

Update: So, here's the real deal: UTV is buying 30.02% in Indiagames from its Founder Promoters and Employee Shareholders for Rs 94.56 crore, following which it will increase its stake to 86.02%, from 56%. It is negotiating with other shareholders to increase its stake to 100%. The valuation at which the promoters and employee stake has been picked up values Indiagames at 314.99 crore, or $61.24 million, and not the $80-100 million reported by AllThingsD. That said, there's no telling what price the shares will be purchased from the remaining shareholders. Note that the stake has been purchased by UTV, not Disney, but it's likely that Disney is buying Indiagames through UTV. Disney is in the process of acquiring 100% in UTV and delist it anyway. Earlier: Inevitable as it seems, Disney is set to buy Indiagames Ltd, probably India's largest mobile gaming company, at a valuation of between $80-100 million, reports AllThingsD. Why inevitable? Because Disney is also in the process of buying out UTV Software, a film, television and gaming conglomerate which is a majority shareholder in Indiagames. The buyback process hasn't even begun yet, and could take months to complete, with approvals and an open offer pending. The terms of the Indiagames-Disney deal are also not known, especially the lock-in period for the promoters. Note that MediaNama could not independently confirm this development - Indiagames founder Vishal Gondal did not return calls - at the time of filing this report. Disney's bid to acquire UTV probably happened at…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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