MUMBAI: Adlabs Films Ltd has completed the process of acquiring a controlling stake in Siddhartha Basu's TV content company Synergy Communications.

Indiantelevision.com was the first to report that Adlabs was buying a majority stake in Basu's company. The new entity will be called Synergy Adlabs Ltd, subject to regulatory approval.
Basu would continue to lead Synergy Adlabs' strategy and business operations as chairman and managing director, the company said in a statement.

In addition to Siddhartha and Anita Kaul Basu, the board would be strengthened by Adlabs Films wholetime director Pooja Shetty, Reliance Capital senior vice president Anil Arjun and Adlabs Films chief financial officer Venkat Devarajan.

"Synergy Adlabs is envisaged to contribute sizeable revenues to the overall revenue pie of Adlabs Films by March 2008. The intention is to enhance Synergy's production operations and scale up content to include high-quality popular fiction, youth-based shows, non-fiction content (including reality and lifestyle shows) and international content," the statement added.

Synergy Communications has done over 30 televised series and produced over 2000 hours of content. Among the popular shows include Kaun Banega Crorepati, Jhalak Dikkhla Jaa and Mastermind India.