MUMBAI: UTV Software Communications (UTV) has agreed to acquire the remaining stake in its subsidiary, UTV Indiagames.

UTV, which holds 56 per cent of the fully diluted equity in Vishal Gondal-founded triple play gaming company, has entered into a definitive agreement with founder promoters and employee shareholders of Indiagames to acquire further 30.02 per cent for a "purchase consideration" of Rs 945.6 million.

After completion of the deal, UTV will own 86.02 per cent of
Indiagames on a fully diluted basis.

The company also said that it is in talks with remaining shareholders to take full control of the gaming company. "The company is in active negotiation with the reminder shareholders of Indiagames to purchase the remainder shares to achieve the desired objective of increasing the company‘s (UTV) shareholding in Indiagames to 100 per cent," UTV said.
 
In Indiagames, apart from founder and CEO Vishal Gondal, Adobe and Cisco Systems also hold minority stake.

The deal will ensure that The Walt Disney, which is taking full
control of UTV, will have Indiagames as well.