25/11/2010 Press Release Seas Entertainment Limited (formerly 7Seas Technologies), an intellectual property (IP)-based game development company, is looking at infusing investments to the tune of ₹25 crore in IP creation for different genres and platforms over a period of two years. "We already have to our credit 400 IP-based games in segments including online, PC, and mobile. With our own gaming engines and other advanced technology, which came along with the acquisition of Germany-based Neodelight in 2008, we are now aiming at adding 600 IP games to our existing catalogue in the next two years. We are currently weighing various options to raise the requisite funds," L. Maruti Sanker, managing director of 7Seas Entertainment, told Business Standard. Stating that IP creation in gaming was as important as in any other knowledge sector, with hundreds of man-hours and a whole lot of costs involved, he said depending on the platforms, an investment of anywhere between $10,000 (approximately ₹4.75 lakh) and $5 million (₹23.75 crore) was required in a successful IP-based game. World Tour Online Realgames NASSCOM projects the Indian gaming industry to grow at a compound annual growth rate (CAGR) of 49% to reach $830 million (₹3,942 crore) by 2012, while the domestic animation industry is expected to grow at a CAGR of 22% to touch $1 billion (₹4,750 crore) by then. Bets Big on Mobile Segment The Hyderabad-based company, which currently has seven 3D mobile games, is drawing up plans to focus on the mobile gaming segment as well. Though online gaming is the bread and butter of the gaming industry worldwide, mobile gaming is also fast catching up, with both online and mobile segments accounting for 50% of the total gaming demand. The company is scouting for land in Hyderabad to set up its own campus to support growing operations and expansion into other verticals in digital entertainment within India and internationally, he said. "India has 484.4 million mobile subscribers, and this puts the company in an advantageous position. We have aggressive plans for the mobile segment and will announce them sometime early next year," Sanker said. In keeping with the name change of the company, he said 7Seas saw development of IP in the animation segment evolving as a good business opportunity, going forward. "We are already witnessing increased demand for 'original animation products' for global consumption. Though we do not feel any need to change our business model (IP-based games) at present, we will look at how these new segments will evolve and then later take the plunge to reap good dividends," he said. Own Campus in Hyderabad According to Sanker, the company was scouting for land in Hyderabad to set up its own campus to support growing operations and expansion into other verticals in digital entertainment. "In the near future, we are planning to have our own dedicated development center and a digital studio, for which we will approach the government for allotment of around three acres," he said, while declining to draw any timeline for the proposed plan. -press release