Pyramid Saimira acquires Aurona Technologies

Pyramid Saimira Theatre Ltd has announced its strategic acquisition of UK-based Aurona Technologies Ltd, on January 24, 2008. Pyramid Saimira has acquired a majority stake in Aurona Technologies, a leading video games and interactive entertainment software company headquartered in London. Mr. Santosh Pillai, CEO, Aurona Technologies Ltd, will continue in his incumbent role and will also take over as Director. Pyramid Saimira Production Services Ltd, thereby integrating the operations of both the Companies.

Speaking about the acquisition, Mr. P S Saminathan, Managing Director, Pyramid Saimira Group said, "We are extremely happy to announce this strategic acquisition of Aurona Technologies Ltd. This marks the entry of Pyramid Saimira in the high-growth, high-margin animation & gaming Industry. Since our group has access to a huge content library, we will be able to cross-exploit the content properties. Further we are focused on creating a world class vertical on post production / animation / gaming and this acquisition brings not only the existing knowledge base and customer base, but more importantly, high quality management bandwidth, with international exposure."

Mr. N. Narayanan, Director, Pyramid Saimira Group, welcomed the employees of Aurona Technologies into the Pyramid Saimira family, which has now crossed more than 15000 across the globe. This acquisition is in keeping with our vision at Pyramid Saimira to be the world's leading entertainment Company. This acquisition also marks our entry into the European market, given that there is a lot of potential and synergy there for all the businesses we are involved in. With this, Pyramid Saimira Group is present in 3 continents."

Aurona Technologies Ltd has a development centre in Hyderabad and also has a representative office in Los Angeles. The Company delivers full game development from India for platforms such as Sony Playstation 2 console, Nintendo DS and PC. Aurona has progressively moved up the value chain, and has built up the know-how and potential IPs in Racing, Lifestyle and First Person Shooter gaming that can be leveraged Internationally and in India. The Company owns the IP oh a location-based wireless social networking community and also owns IP on a portfolio of six mobile games.

Keynote India Capital Market acted as advisors to Pyramid Saimira in concluding the acquisition, Capital Plc London acted as advisors to Aurona Technologies.