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India’s Zapak reported ready to buy Sony Online

NEW DELHI - India’s Zapak Digial Entertainment Ltd, part of the Anil Ambani-led ADAG group, is set to acquire Sony Online Entertainment for around 300 million dollars, a newspaper reported Sunday.

The Economic Times daily quoted unnamed Zapak company officials saying the deal was expected to be finalized by next week.

Sony Online is the game development and game publishing unit that is part of the Japanese electronics company Sony Corporation. Based in San Diego California, Sony Online had a revenue of 150 million dollars.

‘The deal is almost through. It is in the final stages of negotiations and by next week, Zapak will have a full right to all content, owned and published by Sony Online,’ one company official told the paper. ‘This makes perfect sense for us, as around 80 per cent of content in the gaming industry is manufactured internationally. Buying out Sony, will not only give us access but also expand our reach in the global market,’ the official said.

Sony Online which has developed popular games like Everquest and Vanguard. In April it announced a tie-up with Bangalore-based Virgin Comics and would launch a multimedia online game based on the Hindu epic Ramayana.