Mediaware InfoTech on an expansion spree; to enter capital market in 2007

    MUMBAI: Mediaware InfoTech, specialising in the business of software solutions for the advertising and media industry, is on an expansion spree. The company is planning to launch an initial public offering (IPO) in mid 2007 for raising Rs 400 million.

With over 625 installations in India and the Middle East, Mediaware offers solutions for ad agencies, media buyers, corporate advertisers, radio and television channels, publications, outdoor agencies.

The company has already spread its wings to the Middle East and SAARC (neighbouring) countries. Asia-Pacific, China and Russia are next in line.

Mediaware InfoTech CEO Biswajit Das said, "We are in talks with various venture capitalists and other agencies for raising capital. Last year, a private company had invested Rs 40 million in our company. Another company will invest around Rs 100 million in 2006 to fuel our expansion plans. We are also planning to launch an initial public offering somewhere in mid 2007 for raising Rs 400 million."

Das added, "We have a budget of Rs 20 million for developing and acquiring new products. We are in the process of acquiring several web-based products and brands."

The company has already rolled out new products including TickerVin (new agency data management software with super-fast search) and PhotoVin (photo agency database).

Mediaware also offers innovative solutions for integrating applications between agency, media buyer and advertiser, media owner using latest concepts and tools like e-documents (XML), client - web-server and instant messengers.

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