Mukta Arts acquires Coruscant Tec

MUKTAARTS announced acquisition of Mobile Content & Application company -  CORUSCANT TEC in an all cash deal for a controlling stake in the company for an unspecified amount.

Coruscant Tec founded in 2003 with services space (MVAS) provide content and applications related to the fast growing MVAS space.  These cover ringtones, wallpapers, Video on Demand, applications, m-comics, mobizines, mobiepisodes and java games.  Coruscant is a Red Herring award winner in 2006 and has done innovative work in MVAS such as MF Hussain wallpapers, Uncle Pai comics, aggregation of java games, repurposing magazine content for the mobile, etc.

Ajay Adieseshann, Founder and MD, Coruscant Tec said, “Several players, wishing to consolidate or enter the mobile VAS space, have expressed interest in our company.  We found that Mukta Arts with its command over the complete entertainment value chain in India, was the best fit to provide the necessary scale and boost to the business, which is currently a US$ 1 Billion market growing at 40% per annum and expected to become a US$ 4 Billion market by 2010.