Mukta Arts picks up minority stake in Maya Digital Studios

Subhash Ghai-led Mukta Arts has picked up a strategic stake in filmmaker Ketan Mehta-promoted Maya Digital Studios which does computer animation and digital VFX work.

Mehta said the deal involves Mukta Arts picking up a "substantial minority stake" in his company, Maya Digital Studios, and the investment is strategic in nature.

"The deal creates many synergies. Mukta does not have a picture post production or VFX division, while it works well for Maya as well as we get to work with a company like Mukta," Mehta told PTI today.
He 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 has himself, his wife Deepa Sahi and veteran American computer graphics veteran Frank Foster as shareholders.

Post-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 currently has a development centre in Mumbai and has drawn up plans to have one more in Goa, he said.