India Business
Percept to set up new media domain
Apr 5, 2007 - 7:43:07 PM

Mumbai, April 5 - Percept Holdings, a leading marketing communication, public relations and event management firm, Thursday announced its exit from the tie-up with Netweb Solutions, an online communication and support service provider, to set up its own new media domain.

The Mumbai-based Percept Holdings will invest $10 million towards the start-up in the 'new tech media' domain, named Percept Media, focusing on online and interactive communications including gaming, mobile and net, the company said in a statement.

The company had tied up with Netweb Solutions to form WebPercept in 2000 to establish its presence in the web and online domains, said Percept Holding chairman and managing director Harindra Singh.

'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,' Singh said.

'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.'

After the restructuring, Percept Media is set to cross $100 million in capitalised billings by the end of its first year of operations, ranking it among the top five media service business in India, Singh said.

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