December 23, 2007 / 4:55 AM / 11 years ago

India's Zapak set to buy Sony Online - report

MUMBAI, Dec 23 (Reuters) - India’s Zapak Digital Entertainment Ltd, part of the Anil Ambani-led ADAG group, is set to acquire Sony Online Entertainment for about $300 million, the Economic Times newspaper said on Sunday quoting unnamed sources.

Sony Online is the game development and game publishing unit that is part of global electronics maker Sony Corp’s (6758.T) group. Sony Online had revenue of about $150 million, the paper said.

“This makes perfect sense for us, as around 80 percent of content in the gaming industry is manufactured internationally,” said an unnamed Zapak official in the paper.

“Buying out Sony will not only give us access but also expand our reach in the global market.”

The deal is expected to be finalised by next week, the paper said citing unnamed sources.

Sony Online, which has developed games such as EverQuest, PlanetSide and Vanguard, in August tied up with Richard Branson’s Virgin Comics to launch a multi-player online game based on the Hindu epic Ramayana. (Reporting by Bharghavi Nagaraju; editing by Louise Heavens)

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