Homegrown digital entertainment and technology firm JetSynthesys Pvt. Ltd said Monday it has partnered with Tokyo Stock Exchange-listed Digital Hearts Holdings (DHH) to expand its operations in Japan as well as help DHH set up its operations in India via a joint venture.
As part of the deal, DHH will invest Rs 16.8 crore (nearly $2 million) to acquire a 9.5% stake in JetSynthesys Co., Ltd, the Japan-based subsidiary of JetSynthesys, DHH said in a statement.
DHH will also invest Rs 12.5 crore (around $1.5 million) for a 50% stake in JetSynthesys Digital Services Pvt. Ltd, the India-based joint venture which will be set up in Pune.
The joint venture will expand DHH’s debugging businesses in India and the global gaming market by combining the resources and know-how of both companies, the company said.
JetSynthesys Japan will support business development in the Western countries for DHH while DHH will support business development in Japan and other important Eastern Asian markets for JetSynthesys Japan.
DHH will bring its expertise in quality assurance, customer support, and marketing. On the other hand, JetSynthesys will leverage its technological strengths and prowess in digital entertainment.
JetSynthesys is a new-age digital entertainment and technology company with a global presence in three categories: gaming and esports, digital entertainment and wellness and livelihoods.
It is a part of the diversified JetLine Group of Companies, which counts the family offices of Poonawalla and Infosys co-founder Kris Gopalakrishnan, promoters of entities such as engineering company Thermax, diversified manufacturer Triveni Group, and the DSP Group, as its investors.
"Japan is the third-largest gaming market in the world and boasts of the highest average revenue per user globally. Our strategic partnership with DHH is a pivotal step in strengthening JetSynthesys’ international footprint,” said Rajan Navani, chief executive officer and founder of JetSynthesys.
“We will leverage our collective sensibilities, deep understanding of the video games market, audience behaviour, and industry dynamics to create cutting-edge global titles," Navani added.
