Percept consolidates its presence in 'New Media'

Mumbai, Apr 5 (UNI) Percept has today announced its exit from WebPercept as a part of its restructuring strategy in the 'Percept Media' domain.

Percept tied-up with 'Netweb Solutions' in the year 2000 with a majority shareholding stake. The company had since been renamed as 'WebPercept'.

WebPercept specialized in providing online communication solutions to clients, thus establishing Percept's presence in the web and online domains and completing Percept's 360 degree marketing communications support service offering.

Mr Harindra Singh, Vice Chairman and Managing Director, Percept Holdings here said in a release. ''The opportunities in the 'New Tech Media' domain today are immense and we believe we need to go aggressive in this domain. Percept will shortly announce the 'New Tech Media' offering in conjunction with its 360-degree offering of 'Percept Media'. We have had a satisfying and productive relationship with Netweb Solutions. It is now time for us to move on and pursue our own ambitions.'' Percept has earmarked USD 10 Million as investment towards the start-up or acquisition in the 'New Tech Media' domain, which will focus on online and interactive communications including gaming, mobile and net.

This announcement is part of Percept's restructuring in its business to have a full independent integrated media service offering. Post the completion of the restructuring, 'Percept Media' (the consolidated media business of Percept Holdings across conventional media, Out-of-Home media, Retail Media, New Media) is set to cross USD 100 Million in capitalized billings by end of the year one of operations, ranking among the top five media services business in India. Percept Media will offer a unique integrated 360 degree media offering that will cover not just conventional media, but will also integrate the best in class of New Media (including online), Retail, Rural, Activation, Below-the-Line and Experiential&Entertainment marketing.

Under the agreed plans, Percept has transferred its majority stockholding to the Partner at WebPercept. Percept will withdraw the name 'Percept' from 'WebPercept' with immediate effect. Percept retains the right to use the brand name 'WebPercept' in its future ventures in the 'New Tech Media' domain, the release added.

UNI