(19 July 2007 3:25 pm)

MUMBAI: Percept has announced the launch of Percept Knorigin - a tech media and service provider, with an initial investment $5 million. The company has roped in Viraj Malik to spearhead the new venture as managing director.

Percept Knorigin will be focussed on servicing Indian and global clients by leveraging digital media technology like internet, mobile, gaming and 360 degree capabilities of Percept Group which has interests in entertainment, media and communication services with a capitalised billing of Rs 16.5 billion.

The company plans to set up a delivery facility in Bangalore where it will be headquartered. It will also have offices in Mumbai and Delhi. Percept Knorigin is targeting revenues of $10 million per annum and will expand to a team of 100 within the next three years, according to a company statement.

Percept Holdings vice-chairman and MD Harindra Singh said, "The Digital or New Tech Media is heavily matured in western countries like US and UK. Estimates predict that by 2010, India is slated to have the third largest mobile and internet user base worldwide. Digital/Interactive communication (Internal and external) in India is undergoing an evolution stage at a rapid pace. 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."

Malik added, "We will be focusing on three broad areas, to create IP in digital advertising aggregation and build network of high quality online properties. Leverage Percept's content and network to build unique online and mobile assets. ROI linked marketing solutions to clients in India, UK and USA. Services which will include consulting, creative, operations and procurement services."

The company will also look at making investments in building 'enabling platforms' for providing these services and solutions. Services bundled with 'enabling platforms' will provide Percept Knorigin the capabilities to offer ROI based marketing solutions.

Viraj Malik brings with him more than 12 years of experience in areas of strategic marketing and business development, which includes entrepreneurship experience within India and market development experience in Indian, European and US markets. His last assignment was with Infosys where he headed business development and led key client engagements for Infosys in the European & US markets for IT outsourcing business and was based in London and New York for the last 5 years.