Business
Indian joint venture
Indian joint venture.
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[{"type":"text","content":"\n RNS Number : 7208I Velti PLC 24 November 2008 \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFor Immediate Release\n\n\n24, November 2008\n\n\n\n\n\nVelti Plc\nJoint venture with HT Media mobilises Indian media\nVELTI, New Delhi and London. In its first strategic move into India, Velti Plc, a leading provider of software platforms, applications and services for advertising agencies, mobile operators and media, announces that it has established a new mobile marketing joint venture with HT Media, India's second largest media group. The joint venture agreement was signed during the HT Leadership Summit in New Delhi, at which Dr. Manmohan Singh, Prime Minister of India, was a speaker.\n\nThe Joint Venture (JV), in which Velti will have a 35 per cent shareholding, will initially operate in New Delhi and Mumbai and will service large network operators, brands and advertising agencies, as well as smaller regional companies, across India. The JV will plan, execute and monitor media campaigns across all media channels, including mobile, TV, online and print, using Velti's technology. It will initially operate from within Hindustan Times offices in New Delhi as well as having a sales team in Mumbai.\n\nHT Media is a listed media group owning one of India's leading English publications, Hindustan Times, as well as the vernacular daily - Hindustan and the business daily - Mint. Together, the publications have a national readership base of more than 12 million readers. \n\nThe JV will look to benefit from the rapidly expanding population of mobile users in India, enabling compelling campaigns with mobile becoming a key element alongside traditional media channels. There are now more than 300 million mobile customers in the country and the market is continuing to grow quickly, with more than 10 million mobile subscribers added in September 2008 alone. Some projections have the Indian market breaking the 500 million user mark by September 2010.\n\nHT Media has already established its digital presence throug...