HONG KONG — Reliance Entertainment, the Indian corporation that is a major investor in DreamWorks Studios, is planning to ramp up its mobile gaming business through a series of acquisitions.
Manish Agarwal, CEO of the company’s Reliance Games unit, says that the company is in the process of appointing bankers to help it with the task of acquiring European and American games companies.
“We will go full steam in the January and February time frame in terms of identifying studios,” Agarwal told the Reuters news agency. “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.”
Target companies would typically be small, with a sustainable pipeline of games in development, and cost $2-5 million each to acquire.
Agarwal said that the unit aims to have $50 million of net revenue within three years.
The company currently works in tandem with Hollywood studios including Warner, Bros, Lionsgate and Sony. Its biggest selling current title is “Real Steel,” based on the DreamWorks movie.
Reliance Entertainment is part of the Reliance ADA Group, controlled by Anil Ambani. It has activities spanning cinema exhibition (Big Cinemas), visual effects (Reliance Mediaworks) and international sales (IM Global).