Suresh Productions picks up 35% stake in FXLabsOur Regional Bureau / Hyderabad May 29, 2006Suresh Productions, a film production house, has taken a 35% stake in game development and production services provider, FXLabs Studios, for $3 million.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." Some films have already been shortlisted in this regard. 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 of Suresh Productions & director of Spirit Media, a subsidiary of Suresh Productions, 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
