Ubisoft announced that it has concluded an agreement with Gameloft to acquire its video game development studio based in Pune, India. Established end of 2006, the studio has a team of 120 developers and testers who will initially focus on porting titles to handheld consoles and reinforcing Ubisoft’s testing teams. The goal is to become 200 developers strong in 12 months time and to reach a team of 500 in the coming years. The operation is subject to normal closing conditions and is expected to close during the first quarter of the 2008-09 fiscal year.