Suresh Productions picks up 35% stake in FXLabs

Suresh Productions, a film production house, has taken a 35 per cent stake in FXLabs Studios Private Limited for $3 million. FXLabs Studios is a provider of game development and production services.

Addressing the media, Tony Garcia, chief executive officer of FXLabs, said, "This partnership with Suresh Productions will not only bring in the necessary funding for us but also bring forth properties from the film world which can be developed into games."

According to Rana Daggubati, managing director of Spirit Media, a subsidiary of Suresh Productions, some films have already been shortlisted in this regard.

"The films on which games will be developed will not necessarily be produced by our company. We are, in fact, looking at properties of other Indian film producers," Suresh Daggubati, managing director, Suresh Productions and director, Spirit Media, said.

Meanwhile, FXLabs is looking at increasing its employee strength to 200 by the year-end from 87 at present. While the company focuses on video game and console game market, it has not ruled out entering the mobile game space in the future.

FXLabs is already into the production of video games like 'Inferno' and 'Archie's Riverdale Run'. 'Inferno' is an action/horror game and is scheduled for completion on the PC platform by the end of the year. 'Archie's Riverdale Run' brings Archie comics in 3D format and is scheduled for completion in early 2007. It will be available on both PC and Xbox video game console.