Percept to invest USD 5 million in New Media Domain

Mumbai, July 19 (UNI) Percept today announced launch of 'Percept Knorigin', a tech media and service provider, to strengthen its portfolio of media and marketing offerings.

The new venture will witness an initial investment of US 5 million dollars.

Percept Knorigin will focus on servicing Indian and global clients by leveraging digital media technology like internet, mobile, gaming and 360 degree capabilities of Percept Group, which has interests in entertainment, media and communication services with a capitalised billing of Rs 16.5 billion.

The company plans to set up a delivery facility in Bangalore, with offices in Mumbai and Delhi.

Speaking to reporters here, Percept Holdings Vice-Chairman and Managing Director Harindra Singh said ''The digital or new tech media is heavily matured in western countries like US and UK.

Estimates predict that by 2010, India is slated to have the third largest mobile and internet user base worldwide. Digital/Interactive communication (internal and external) in India is undergoing an evolution stage at a rapid pace. Percept Knorigin targets revenues of USD 10 million per annum and will expand to a team of 100 within the next 3 years.'' Percept Knorigin MD Viraj Malik said ''We will be focusing on three broad areas -- create IP in digital advertising aggregation and build network of high quality online properties. Leverage Percept's content and network to build unique online and mobile assets and ROI linked marketing solutions to clients in India, UK and USA.'' UNI LS SSS AG1904