Compact Disc India sells IP rights for games at Rs 7.10 crore
Compact Disc India has inked a deal with Golden Games, Singapore, to transfer IP rights of an animated character
Compact Disc India, India’s integrated Media and Entertainment Company, has inked a deal with Golden Games, a Singapore based company. As a part of the deal, CDI has transferred IP Rights of an animated character ‘Joker’ to Golden Games. The Singapore company will make a total payment of US $ 1.65 million (Rs 7.10 crore) towards the purchase of IP Rights, which will be used for developing and publishing On-line Mobile, PC and Console Games in near future.
“CDI has sold the IP Rights of an animated character ‘Joker’ to a Singapore based company Golden Games at Rs 7.10 crore. CDI is expected to generate additional revenue of Rs 20.00 crore by selling IP Rights for the Games during the fiscal year 2008-2009,” said Suresh Kumar, Chairman, Compact Disc India. “This association reflects confidence in CDI’s ability to partner with big international players in the sector.” Kumar added.