Disney to acquire Indiagames - report
Sources say deal could be completed by the end of the day
Disney is poised to complete the acquisition of Mumbai-based developer and publisher Indiagames.
According to a report on the Wall Street Journal's All Things D blog, sources close to the deal say it could be completed by the end of the day.
Earlier this year, Disney acquired the media conglomerate UTV, which owned around half of Indiagames. One source placed the value of the company between $80 million and $100 million, meaning that Disney would need to pay up to $50 million to complete the deal.
Indiagames was founded in 1999, and now has more than 300 employees spread across its Mumbai, Beijing, London and Los Angeles offices.
In February, the Disney Interactive Media Group's co-presidents John Pleasants and James Pitaro pledged to make the division profitable by 2013.
Since then, financial reports have shown consistent losses, leading to redundancies at social developer Three Melons and the closure of Black Rock Studios.
Both Disney and Indiagames CEO Vishal Gondal have declined to comment on the deal.