"We plan to start a game development studio in India in the coming months where the initial focus will be on mobile cellphone platform to create games and other entertainment content," Jay Balakrishnan, executive producer of Radical Entertainment said on Friday.
The company is open to acquiring a design studio in India or even starting from scratch. "We may either start with a design studio of our own or acquire an existing company. We can also go for both these options," he said.
Balakrishnan said Radical has identified around 10 potential acquisition targets in India. The company has 200 employees in its design studio in Canada.
As per the MoU, Intent will provide content based on Indian characters to Radical. Radical will develop this content on various platforms and market it in India.
Later, the products that will come out of the joint venture will be sold in Asia and marketed in other regions. To start with, the main market of the companies will be Indians settled abroad.
The worldwide market for video games is expected to touch $32 billion by 2009, while Indian mobile gaming market is expected to grow to $336 million.