Percept Holdings has announced its intentions to invest $5 million in new media domain, and will be launching ‘Percept Knorigin’, a tech media and service provider. Viraj Malik will head the business and will be designated as Managing Director of Percept Knorigin. The company plans to set up a delivery facility in Bangalore with offices in Mumbai and Delhi.
Percept Knorigin intends to focus on servicing Indian and global clients by leveraging digital media technology like the Internet, mobile, gaming and 360-degree capabilities of the Percept Group. Percept Knorigin targets revenues of $10 million per annum and will expand to a team of 100 within the next three years.
Speaking about the new division, Harindra Singh, Vice-Chairman and MD, Percept Holdings, observed, “The digital or new tech media is heavily matured in Western countries like the US and the UK. Estimates predict that by 2010, India is slated to have the third largest mobile and Internet user base worldwide.”
Commenting further on the developments, Singh added, “Viraj brings in a lot of experience with him in this domain and I am confident Percept Knorigin will deliver value in the area of tech media to our clients.”
Meanwhile, Viraj Malik, MD, Percept Knorigin, noted that the new division would be focusing on three broad areas. “Firstly, we would work on creating IP in digital advertising aggregation and build network of high quality online properties. Second, we would leverage Percept’s content and network to build unique online and mobile assets. Lastly, we would focus on ROI linked marketing solutions to clients in India, the UK and the US.”
The company is also looking at making investments in building ‘enabling platforms’ for providing these services and solutions. Malik brings with him more than 12 years of strategic marketing experience. His last assignment was with Infosys where he headed business development and led key client engagements for Infosys in the European and the US markets for IT outsourcing business, and was based in London and New York for five years.