Hyderabad-based Sriven Multi-Tech, which specialises in multimedia and 2D animation, has acquired a 51% stake in Los Angeles-based 3D animation company Station X Studios LLC.
Station has changed its name to Station X Entertainment as a result of the all-cash deal which sees Sriven plough $2.5m into the company. A portion of the investment comes from overseas venture capitalists and strategic investors.
Station's current client list includes Microsoft, Columbia TriStar, Disney and Sony Entertainment. Sriven Multi-Tech was incorporated in 1997 and is currently listed on the Bombay and Hyderabad Stock Exchanges.