WebPercept, which has been bought out by NetWeb Solutions’ Amit Tripathi, has been rechristened as id8 Labs. The new entity will function under the NetWeb banner and the buyout was with an intention to consolidate all the holding companies’ businesses under a single banner.
Speaking about the decision, Tripathi, Director and Founder, NetWeb Solutions, said, “The acquisition is key to our strategic plans to emerge as the leading player in Indian and global markets in the growing online and digital space.”
Throwing more light on the association with Percept, he divulged, “Percept had earlier partnered with NetWeb Solutions to launch WebPercept as a 51:49 JV in the early days of the dotcom era in 1999-2000. Now, in a bid to merge all our existing businesses under one banner, I bought out the 51 per cent stake from Percept Holdings.”
“We intend to merge all our existing business franchises under Intentias, a Search Engine Marketing; media brand IMACS, which is a player in online research; and NetWeb, our brand in application development, into a single banner,” he explained.
The official note from the company noted that id8 Labs plans to invest US$5 million in the next 12-18 months through internal accruals, promoter funding and strategic investments, to expand its franchise in Indian and global markets through offices in Dubai and Singapore.
Talking about some of the offerings expected from the company, Tripathi pointed out, “We are developing proprietary research tools. Online research is as yet a nascent stage in the industry. However, given that the Internet is fast emerging as the preferred medium for experiential marketing, online research will explode as a huge business opportunity by 2010.”