Pentamedia Acquires Media Dreams
Continuing its rapid growth, Chennai-based Pentamedia Graphics has acquired three additional India-based companies, including entertainment production house Media Dreams. Pentamedia purchased all three firms in a share swapping deal. Media Dreams produces television, theatre and Internet content and has recently expanded into post-production. The company boasts deals with Indian sci-fi writer Sujatha Rangaraja. In addition, Pentamedia has bought sports entertainment company, Krish Srikkanth Sports & Entertainment Pvt. Ltd., and hospitality, leisure and location-based entertainment firm, Mayajaal (formerly known as Hotel Whales Private Ltd.). The company's board has already approved the acquisitions, in addition to the previously announced joint ventures with Digital Domain and Canada-based Studio 345. In October, Pentamedia purchased a 51% controlling share in Hollywood-based animation house Film Roman.