Entertainment firm Pyramid Saimira Theatre on Thursday said it has acquired UK-based Aurona Technologies for an undisclosed amount.
The company said in a filing to the Bombay Stock Exchange that it has acquired a majority stake in the video games and interactive entertainment software company and the new entity would be known as Pyramid Saimira Production Services Ltd.
“We are extremely happy to announce this strategic acquisition of Aurona Technologies Ltd. This marks the entry of Pyramid Saimira in the high-growth, high-margin animation and gaming industry,” Pyramid Saimira Group Managing Director P S Saminathan said.
The group has access to a huge content library and would be able to cross-exploit the content properties. The acquisition brings not only the existing knowledge and customer base, but also high quality management bandwidth, with international exposure, he added.
Aurona Technologies Ltd CEO Santosh Pillai would take over as the Director of the new entity. The company is also planning to enter the European market to cash in on the available potential and achieve synergy.
“This acquisition is in keeping with our vision at Pyramid Saimira to be the world’s leading entertainment company. This also marks our entry into the European market. With this, Pyramid Saimira Group is present in 3 continents,” Pyramid Saimira Director N Narayanan said.
Aurona Technologies Ltd has a development centre in Hyderabad. The company delivers full game development from India for platforms such as Sony Playstation 2 console, Nintendo DS and PC.
Source: New Ind Press