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New Delhi, Delhi, India, Monday, February 23, 2009 -- BWI --
Rajat Sharma's India TV Interactive (ITVI) has acquired controlling stake in Studio Brahma, a one-stop design development and production major with clients across graphic design, web design, multimedia and 3-D animation.
The acquisition is in line with Mr Sharma's "no pink slips, no pay cuts" announcement earlier this month, when in a Town Hall address, he said that his group won't just buck the recession, it will demonstrate furious growth and make 2009 its best year.
ITVI's first acquisition comes within just three months of its creation and adds Studio Brahma's entire resources ranging from architecture to animation into the group. In one swoop, Studio Brahma brings to ITVI over 45 client relationships like Vatika, Uppal, Ambuja, Emar MGF, Baani, Jindal Steel, The Kitchen Art Company and Aarohi, besides ongoing development projects for Ministry of Tourism, ITDC and the Chattisgarh Tourism Board.
ITVI is Mr Sharma's vehicle for a major foray into various new media platforms and value-added services.
"I warmly welcome Studio Brahma into ITVI and the group. The three directors, Lalit Bhandari, Vivek Gupta, and Aman Gupta have a rich and diverse repertoire and I have no doubt that they will make full use of the unique synergies available in our group businesses," Mr Sharma said.
"Studio Brahma is a repository of extraordinary talent. I am delighted that they now have the entire marketing and infrastructure prowess of our group at their disposal," Ritu Dhawan, Managing Director, Independent News Service Pvt Ltd and ITVI said.
Mr Sharma said, "the downturn in the economy has thrown up some solid inorganic growth opportunities for those of us who are doing well."
"We are truly excited about the myriad of opportunities from the acquisition of Studio Brahma. It is the fruit of our hard work and the value we bring to our existing clients. These valued relationships will derive significant benefits from the acquisition and the exacting standards of achievement set by India TV, our group's flagship brand," Mr Bhandari, and Mr Vivek Gupta and Mr Aman Gupta said in a joint statement.
About Mr Rajat Sharma, Ms Ritu Dhawan, INS and ITVI:
Mr Rajat Sharma is Chairman of Independent News Service (INS) and Editor-in-Chief of India TV. India TV is India's highest rated news channel and the flagship service of INS. INS was co-founded by Mr Sharma and Ms Ritu Dhawan in 1998. ITVI Pvt Ltd, announced to the media in November, 2009, is their newest foray. Mr Sharma edited important publications before entering television in 1992 with the iconic 'Aap Ki Adalat' and India's first private news bulletin. With 20 years of work behind her, Ms Dhawan, Managing Director, INS and ITVI, is one of India's senior-most television producers. Studio Brahma is at www.studiobrahma.in
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