Ignition’s acquisition by UTV completed

Ignition Entertainment has announced the completion of its controlling share acquisition by Indian entertainment company, UTV Software Communications.

The deal, which was announced in December of last year, closed on March 12. It gives the Mumbai-based UTV a 70 per cent stake in the Mercury Meltdown developer, at the cost of USD 13 million.

"This transition marks the beginning of an aggressive plan for Ignition Entertainmentâs future, and we will soon be announcing new products for the upcoming year," said Vijay Chadha, CEO and co-founder of Essex-based Ignition.

Ignitionâs expansion plans include infrastructure changes, and talks with a number of development teams aimed at bolstering its 2007/08 release schedule across all formats.

It aims to release both licences and original IP, including PS3 debut WarDevil, currently in development at its Ealing studio, Digi-Guys.

UTV, which is listed on the Mumbai stock exchange, is active in film, broadcasting, TV content, animation and gaming. It also has a controlling stake in mobile gaming firm India Games.

Ignition said UTVâs expertise would present it with "many opportunities within the movie and entertainment arena" and help ensure its partnersâ games reach "the biggest audience possible".