Recreate Solutions, a venture-backed company founded in 2001, has been acquired by Dallas-based Corpus Inc, a provider of domain specialised technology services firm in banking, financial services and telecom industries. Recreate Solutions has its presence in the interactive media industry and offers a range of outsourcing models across interactive television, mobile, broadband, and IPTV solutions.
Commenting on the acquisition, Bhaskar Majumdar, CEO, Recreate Solutions, said, “The interactive media industry is maturing across platforms. It is consolidating around companies that have viable cost structures and revenue streams that generate healthy margins. Outsourcing of non-core technology functions is a proven method to increase profitability. Recreate Solutions is focused on providing high quality outsourced solutions that add value to clients in our service segment – Digital Interactive Content. Under the Corpus banner we will now we able to take our solutions to Corpus’s Fortune 100 client base.”
With the acquisition, Corpus expands its presence in the media and entertainment sector.
“We are pleased and excited to welcome Recreate into our corporate family,” remarked Corpus CEO, Sachin Tummala. He added, “We acknowledge the important role of technology in enabling the distribution of content over disparate channels. Recreate has mastered the fields of mobility and interactivity to help its customers in providing best-in-class services. Recreate sells on the basis of competency and has offshore at the central theme of delivery – both aspects of what we are trying to reinforce in Corpus.”
Founded in 1999, Corpus Inc is a CMM Assist IT solutions provider for businesses and government entities. It has offices in Atlanta, Boston, Dallas, New York, Tampa and Washington DC, as well as international operations and development centres at Bangalore and Hyderabad.
One can expect more such consolidations in the future as a flat world compels companies to get work done from where it can be done best.
Our typical marketing budget is usually 10 per cent of the topline spend