7Seas Tech buys German firm

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Hyderabad, Jan 10 : 7Seas Technologies Ltd, engaged in gaming activities, announced that it has acquired German-based neodelight.com, the gaming division of Neokolor GBR. With the acquisition, 7Seas Technologies will get the full IP rights to Neodelight which include the brand, games, game engine and website. While it was an all cash deal, the value of acquisition was not disclosed.

Announcing this to the media, L Maruti Sanker, MD, said that game engines play a vital role in developing games which reduce development cycle time of games by 50%. Neodelight has developed 33 games for which it owns the IP rights and attracts nearly one million users per month.

As part of its future plans, the company is looking at acquisitions which own IP rights. With Neodelight's game engine technology and its existing IP-owned games, 7Seas Technologies will now have a total of 200 IP-owned games by the end of this year.

''We are planning to have about 500 games by the end of 2009,'' he said. ''Towards this, we are planning to invest $5-10 million through internal accruals and private placement over the next two to three years. This would be used for developing own IP games content, augmenting manpower, infrastructure including animation studio and developing more IP-owned characters,'' he said.