The makes of toon movie, Return of Hanuman and famous tele-serial, Tenali Rama, Toonz Animation India Private Ltd, are planning to foray into gaming industry now. The firm is in the initial stages of talks to acquire a UK-based gaming firm.
While the company official refused to give any information, industry sources said that the deal will be worth well over $100 million (over Rs 400 crore).
The company will get access to global gaming market after acquisition of the firm. At present, the total gaming market in India is pegged at around $450 million.
Headquartered at Thiruvananthapuram, Kerala, Toonz Animation will work on tapping and training local talent for developing new games. It will be using the existing facilities at Toonz Academy for training, while technology know-how will be provided by its partner.
Toonz Animation has achieved a turnover of about $4 million (around Rs16 crore) in the financial year concluded March 2008. According to executive director of the company, Ramaprasad S, they are aiming at increasing it to $5 million (around Rs20 crore) in the current financial year. He was talking to DNA Money on the sidelines of launch of Tonnz Academy in Ahmedabad.
This is the seventh training centre on the company in India. The company intends to take the total number of such academies in the country to 20 by the end of current financial year, with a total investment of over $15 million.
According to Ramaprasad S, the Ahmedabad centre will have an annual output of 100 students. He said that there were around 300 institutes in India but the quality of training being provided to them lacked consistency and quality. He put the dearth of good animators in India at 20,000 at present.
Ramaprasad also claimed that they had moved up the value chain in business as they were more involved in outsourcing work for foreign firms. "Now, we are co-producers with famous Hollywood companies like Walt Disney and paramount," he said.
Source : http://sify.com/
While the company official refused to give any information, industry sources said that the deal will be worth well over $100 million (over Rs 400 crore).
The company will get access to global gaming market after acquisition of the firm. At present, the total gaming market in India is pegged at around $450 million.
Headquartered at Thiruvananthapuram, Kerala, Toonz Animation will work on tapping and training local talent for developing new games. It will be using the existing facilities at Toonz Academy for training, while technology know-how will be provided by its partner.
Toonz Animation has achieved a turnover of about $4 million (around Rs16 crore) in the financial year concluded March 2008. According to executive director of the company, Ramaprasad S, they are aiming at increasing it to $5 million (around Rs20 crore) in the current financial year. He was talking to DNA Money on the sidelines of launch of Tonnz Academy in Ahmedabad.
This is the seventh training centre on the company in India. The company intends to take the total number of such academies in the country to 20 by the end of current financial year, with a total investment of over $15 million.
According to Ramaprasad S, the Ahmedabad centre will have an annual output of 100 students. He said that there were around 300 institutes in India but the quality of training being provided to them lacked consistency and quality. He put the dearth of good animators in India at 20,000 at present.
Ramaprasad also claimed that they had moved up the value chain in business as they were more involved in outsourcing work for foreign firms. "Now, we are co-producers with famous Hollywood companies like Walt Disney and paramount," he said.
Source : http://sify.com/
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