TechTaffy

tech:

taffy

Disney Acquires India’s Indiagames

By TechTaffy Desk

It is official now.  Indiagames, a developer and publisher of online, mobile, PC and console games, including the just-launched Ra.One, has been acquired by Disney. Vishal Gondal, Founder and CEO at Indiagames, confirms the deal on Facebook. “A very emotional, proud and happy moment for myself and team Indiagames,” he says.

The size of the deal is not known, but according to All Things Digital of the Wall Street Journal that first reported that an acquisition may be on the works,  the company was being valued in the $80 million to $100 million range. Reportedly, Disney already owns roughly half of the company, which would translate into an additional $50 million or so for the remaining stake. Other key investors in the company include UTV, a media and entertainment company in India, Adobe, and Cisco. Indiagames recorded a profit of around $400,000 (or INR 2 crore) over revenues of $11 million (or INR 54.5 crore) for the last fiscal year, as reported in the newspaper Business Standard.

Gondal started his first company FACT at the age of 16.  Indiagames was started in 1999 with a five member team. Gondal is also a partner in Sweat & Blood Venture Group, a seed/early stage venture capital fund, which he launched in 2008.

At the time of this report, the companies were yet to release an official statement on the acquisition.

 

Vishal Gondal (Founder and CEO, Indiagames): The show goes on…. We Game ON! One more thing…. I will soon have my first Job :-) partners & investors.

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.