January 29, 2010 : MAYA Entertainment, the film and animation studio company promoted by Ketan Mehta and Deepa Sahi, has sold its education business to Aptech in a transaction valued at Rs 76 crore. The deal will include a cash payout as well as issue of Aptech equity shares to shareholders of Maya Entertainment.

    “The value of Rs 76 crore has been frozen but discussions are still on how much will be paid out as cash and how much will be equity,” Aptech CEO and MD, Ninad Karpe, told ET. He said the cash will be paid through internal accruals. As on December 31, 2009, Aptech had around Rs 30 crore cash on books. Shares of Aptech were down 2.5% to Rs 169 on the BSE on Thursday. Maya, which has investments from Enam Securities, Bhukhanwala Holdings and Intel Capital, is unlisted. The education business under Maya Academy of Advanced Cinematics (MAAC) imparts training in animation and visual effects.