Subhash Ghai-led Mukta Arts has picked up a strategic stake in filmmaker Ketan Mehta-promoted Maya Digital Studios that specialised in computer animation and digital VFX work.
According to Ketan Mehta, the investment is strategic in nature and involved Mukta Arts picking up a "substantial minority stake" in Maya Digital Studios.
"The deal creates many synergies. Mukta does not have a picture post production or VFX division, while it works well for us as we get to work with a company like Mukta," Mehta told PTI today.
He, however, did not disclose the financial details of the deal.
Mukta Arts, a film production house listed on the BSE, will get to nominate one person on the Board of Maya Digital Studios as a part of the deal, he said.
Besides Mukta Arts, Mehta said, the company includes him, his wife Deepa Sahi and veteran American computer graphics veteran Frank Foster as shareholders.
Post the deal, Maya will continue doing cutting-edge outsourced work for major banners across the world and will also look at creating "intellectual property" of its own, Mehta said.
Maya at present has a development centre in Mumbai and has drawn up plans to have one more in Goa, he said.
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