Live Post
Delhi: Worker dies after inhaling toxic gases while cleaning sewer inside hospital premises
Bihar floods: Toll rises to 253, more than a crore people are now homeless
Key accused in Rs 700-crore Bihar fund transfer scam dies in Bhagalpur hospital
War won't give China any clear gain, only cause casualties, assesses govt
Saudi carrier says Qatar has not approved hajj flights
Three Kashmiri youth arrested for disrespecting National Anthem
2008 Malegaon Blast Case: Supreme Court Verdict On Lt Col Purohit's Bail Today

Reliance Entertainment will set out to acquire foreign game studios in 2015

MUMBAI: In a bid to expand its business, Reliance Entertainment is planning to acquire North American and European mobile game studios starting early 2015.

The aim is to become a significant global player in the fast-growing mobile games industry.

Reliance Entertainment is stated to be in talks with bankers to identify and acquire relatively newer mobile game studios in the two continents to boost sales. The company’s Reliance Games unit is looking at acquiring smaller studios worth $2–$5 million initially.

“We will go full steam in the January and February time frame in terms of identifying studios. Gaming is going to be the largest share of the pie of entertainment time spent, and Reliance would like to be a sizeable player in that space,” Reliance Entertainment chief executive Manish Agarwal told Reuters.

Agarwal said that Reliance Games has huge potential, and in three years, “our business will make $50 million in net revenue, and in five years we’ll be a $100 million company”.

Reliance Games is mainly focused on titles related to Hollywood properties in partnership with studios like Warner Bros, Sony and Lions Gate.

Aiming to expand to other genres through the acquisitions, Agarwal stated that the genres of interest include real-time action strategy, puzzlers like ‘Candy Crush Saga’, builder games like ‘Boom Beach’ and social casino games.

“Reliance Games wants nimble studios of five to 12 members and that are one game away from creating that elusive hit and looking to scale. If the game is already doing good, the shelf life of the game could be six to 12 months,” Agarwal said.

Reliance Games develops its own titles at its Pune-based studio in India and partners with other game studios.

As per the report, currently about 70 per cent of Reliance Games’ revenue comes from North America, the UK, Russia and Korea, and about 20 per cent from India, mostly from games offered through telecom carriers rather than app stores.