Starbreeze, a Sweden based independent video game developer and publisher, has acquired a 90.5% stake in Indian art production and game development company Dhruva Interactive for $8.5 million: $7 million of this will be in cash, whereas the $1.5 million would be in newly issued Starbreeze B-shares, the company announced. Starbreeze acquired the company in order to “secure its art production needs,” improve the quality of its inhouse production projects and lower operating costs. Starbreeze will also offer end to end game making services to publishers and pad its VR ecosystem. Dhruva will operate independently and continue servicing its global clients. Dhruva has over 320 employees. According to the company statement, Dhruva’s revenues were $4.5 million for the financial year ended March 2016. The acquisition deal is expected to close at the end of the first quarter in 2017 subject to approval of foreign investors in India. Dhruva was founded by K Rajesh Rao in 1997 and has developed PC and mobile games like Mission: Impossible, Kaun Banega Crorepati, Terminator 3 – Rise of the Machines, Forza Motorsport, Battlefield: Modern Combat, Need For Speed: PROSTREET and NFS: UnderCover among others. Its art studio offers animation, in game integration, concept art, game art and mobile services. At the end of 2013, Dhruva Interactive set up an incubator called Gametantra targeting mobile game developers and offered space and mentorship in return for a 3-7% stake. Developments in the mobile and gaming space in India Earlier this week, InMobi partnered exclusively with US based Tapjoy, a…
- “Foreign state actor” may be responsible for the ransomware attack on AIIMS-Delhi: Report December 3, 2022
- Agenda: Reworking The Data Protection Bill, Delhi, 8th Dec #Ad December 3, 2022
- Why has the deadline to comply with UPI market share cap been extended by the NPCI? December 3, 2022
- India’s IT Minister on DPDP Bill: Law should be kept ‘simple’, subordinate rules won’t exceed Act December 3, 2022
- MIB approves ninth self regulatory body, PADMA, under the IT Rules, 2021 December 3, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...