In an all cash deal Sriven has invested $2.5 million in the company, aportion of which came from "overseas venture capitalists and strategicinvestors" , says Venkata.

These investors (about four entities) own a 26 per cent stake in Station Xwhile Sriven holds the controlling stake with 51 per cent of the equity. Theremaining 23 per cent is with the employees in the form of stock optionsaccording to Venkata.

The name of the company has been changed from Station X Studios LLC toStation X Entertainment Inc which is the new entity in which Sriven and theother investors have taken equity positions. "These are investors who wantedto invest primarily in Sriven but since this was a strategic fit, they haveinvested in Station X instead" explains Venkata.

Station X has been incorporated by 22 promoters, all of whom worked on theSpecial Effects for the blockbuster Titanic. The company's current clientsinclude Microsoft, Columbia Tristar, Boeing, Disney and Sony Entertainmentaccording to Venkata.

"I believe that the media sector is now poised for takeoff and there will bea great demand for animation. Finally Station X will function as an overseasmarketing arm for the company and the domestic outfit will imbibe skillsthat will enable us to cater to the international market" explains Venkata,outlining his rationale for the acquisition.

Sriven has other plans up its sleeve as well. The company had recentlyfloated a JV with BSES, called Powersurfer Interactive India and is nowpushing full steam ahead with its plans to launch about 100 Information andcommerce kiosks called e-marts across the city of Mumbai by the year end.These kiosks which plan to offer broadband content will rely on BSES whichis putting in place a fibre optic network in the city for the requiredbandwidth.

Sriven plans to put in place a broadband (with audio and video streaming)portal which will serve as a default home page in these kiosks. The companyplans to tie up with select content and commerce providers to offer a fullrange of services. The branded Kiosks will be installed in existingestablishments like Cybercafes and restaurants. "This is the first phase ofthe plan" says Amol Gurwara of Sriven Multi Tech's Mumbai office. "In thesecond phase we plan to put in place a franchisee model whereby theseestablishments could turn franchisees for us" he adds.

The broadband portal will be available in English, Hindi and Marathi in thecity of Mumbai and some of the kiosks will also incorporate a touch screenfacility according to Venkata. "The touch screen is largely for the computerilliterate and we find that Mumbai requires a smaller percentage of thesewhen compared to the rest of the country" says Venkata.

Sriven Multi Tech was incorporated in 1997 and is currently listed on theBombay and Hyderabad Stock Exchanges.