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News >> Technology >>
Pentamedia completes Silversans buy
By siliconindia staff writer
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Friday, 05 March 2004, 20:30 IST
CHENNAI: Pentamedia Graphics, which is in the process of hiving off Mayajaal into a separate listed company, has completed the acquisition of Silversans Beach Resort near Chennai for Rs 20 crore, reports Economic Times.
The beach resort near Mahabalipuram will begin commercial operations from April 14, 2004 . There were certain issues in this acquisition which we sorted out last week. We have also renovated about 70 cottages in the resort, said V Chandrasekaran, chairman, Pentamedia.
Meanwhile, the company has completed the resort project under the Mayajaal Entertainment Centre. This resort is also expected to be launched during the month of April 04.
This mega entertainment centre houses six multiplex theatres, bowling alley, video game arcade, shopping arcade, multi-cuisine food court, bar, swimming pool, cricket stadium, indoor cricket, tennis court, golf course, health club and the new resort.
This centre is claimed to have recorded a turnover of Rs 9 crore last year. The company is planning to establish this kind of entertainment centres in cities like Coimbatore and Pondicherry .
Pentamedia Graphics is currently being split into two companies. We have decided to shift all our production works to Mayajaal Company. All animation film productions under Pentamedia, Media Dreams, Kris Srikkanth, Intelivision and Num TV will be shifted to Mayajaal. Pentamedia will have only the infrastructural facilities and act as an open studio, which can be used by film production companies on contract, said Chandrasekaran.