Reliance Entertainment, part of Anil Ambani's Reliance Group (ADAG) has acquired Anirights Infomedia, an animation company based in Pune.
Reliance Entertainment is planning big investments in animation projects. This acquisition boosts Reliance Entertainment's plans for the entire value chain in the entertainment business, complementing its presence in movies, music, gaming, mobile portals and radio.
According to Nasscom, the Indian animation industry was estimated at $354 million in 2006 and is expected to reach $869 million by 2010. The Indian gaming industry was estimated at $48 million and is expected to cross $424 million by 2010.
Rajesh Sawhney, President, Reliance Entertainment said that the acquisition was completed sometime in the past three months, without giving a specific time or Reliance Entertainment's investment in the animation company.
“We have acquired Anirights and we have built an animation studio in Pune. Our focus is on creating original content (IP market) rather than the outsourcing market. Anirights has done good work in creating original content, so we have acquired it,” Sawhney said.
Anirights Infomedia, formerly based in Bangalore relocated to Pune along with its entire staff of 250 artists and their families, to the new studio close to the Pune airport. In fact, the relocation happened due to the acquisition.
Televisionpoint.com had earlier reported that Anirights Infomedia is setting up high-end digital animation studios in Pune over the next three months. Jump Games, a Reliance ADAG company working on mobile gaming, has already set up their development centre in Pune.
“Our studio in Bangalore was not enough and we were evaluating other places. Pune looked like a perfect place. It has a strong performing arts department in the University of Pune along with active theater groups.” Anirights Infomedia founder and CEO Ashish Kulkarni had said then.
Source: Television Point