Tuesday, April 10, 2007

NetWeb Solutions acquires WebPercept from JV partner Percept Holdings

The Economic Times reports that media company Percept Holdings has sold its 51% stake in WebPercept, an online and digital media agency, to its joint venture partner NetWeb Solutions. The JV was established in 1999-2000. Post acquisition, WebPercept will be re-christened id8 Labs. NetWeb plans to build id8 Labs into India’s first fully integrated online and digital media agency. The company plans to merge its existing business franchises – under Intentias, its brand in SEM & Media, IMACS (brand in online research) and the NetWeb brand in application development – into id8 Labs. id8 Labs will invest $5 mn in the next 12-18 months through internal accruals, promoter funding and strategic investments to expand its franchise in India and global markets through offices in Dubai and Singapore.

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