Seventymm acquires DVD rental player Madhouse

Bangalore-based VCD/DVD rental service company Seventymm has acquired 100 per cent equity of the New Delhi-based Madhouse for an undisclosed amount.

Madhouse is the first Indian company to offer movie DVD rental services via multiple channels - web, SMS, phone and kiosks - for home delivery. Seventymm chief operating officer Subhankar Sarkar declined to comment on the Madhouse acquisition.

Heavyweights such as the Anil Ambani-promoted ADAG, Nimbus and Moser Baer are entering the largely unorganised sector, which is expected to grow to Rs 2,000 crore by 2010.

(Source: Business Standard)