UTV Interactive acquires True Games

Part of $75 million investment approved by board

By Nyay Bhushan

Aug 18, 2008, 11:28 AM ET

NEW DELHI -- UTV Interactive has acquired an 80% stake in U.S.-based online gaming startup True Games Interactive, the company said Monday.

While no acquisition price was given, the news follows an earlier UTV announcement in which the company's board approved total investments of $75 million in various aspects of gaming, including plans to fund a U.S.-based online gaming startup.

California-based True Games focuses on the massively multiplayer online role-playing game model, which accounts for almost half of worldwide online game revenue, and is slated to grow 130% -- from $5.7 billion in 2007 to $13.1 billion in 2012 -- according to UTV.

True Games has inked a deal with Petroglyph, the award-winning development team best known for its "Star Wars: Empire at War" and "Universe at War" series. True Games plans to release its first title in the third quarter.

UTV Interactive acquires True Games

Part of $75 million investment approved by board

By Nyay Bhushan

Aug 18, 2008, 11:28 AM ET