Vistas Media Capital to acquire Reliance Entertainment
Vistas Media Capital (VMC), a prominent media content and technology firm based in Singapore, is reportedly in the final stages of negotiations to acquire Reliance Entertainment. The transaction is valued between Rs. 700-800 crore, marking a significant move in the global media and entertainment industry.
VMC is known for its diverse investments across various sectors within the media and entertainment ecosystem. Their portfolio includes Global Content Production and Distribution, Streaming Platforms for both video and music, Animation & VFX Studios, Blockchain Technology and NFT (Non-Fungible Token) ventures, Gaming, Digital Media Marketing, and management of Events and Award IPs.
One of VMC’s notable achievements is being among the first Asian companies to list a Special Purpose Acquisition Company (SPAC) IPO on Nasdaq. This SPAC is facilitating the listing of Anghami, the leading music streaming platform in the MENA region, and the first Arab tech company to go public on Nasdaq through a reverse merger in Q4 2021.
In November 2023, VMC expanded its reach by forming a joint venture (JV) with Kitara Capital, a global investment group based in the Middle East. This JV focuses on Vistas Media’s content division in Abu Dhabi, strengthening their presence in the region.
Further demonstrating their growth strategy, VMC acquired a majority stake in Paperboat Design Studios, an Indian animation and design company, in 2021. Although the financial details of this acquisition were not disclosed, it underscores VMC’s commitment to expanding its content creation capabilities.
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In 2020, VMC also made a significant investment in Planet Marathi Seller Services, the parent company of the Marathi video streaming platform Planet Marathi, committing up to $5 million to support the platform’s development.
Vistas Media Capital is led by Co-Founder & Group CEO Abhayanand Singh, who is based in Singapore, and Co-Founder & Group COO Piiyush Singh, who oversees operations in the U.A.E. and manages business activities in Abu Dhabi and India, particularly focusing on the development and production of feature films and web series.
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