Genpact, NDTV announce joint venture

By : |March 28, 2006 0



NEW DELHI – Genpact Ltd, India’s largest independent back-office firm, and New Delhi Television said they would form a joint venture to provide services to global media and entertainment companies.

A joint statement said that 70 percent of all media work is now in the digital format, and about 70 per cent of that could be outsourced.

                                 

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The new company would offer services in areas like editing and digitisation.

“The media world is currently at an inflection point … and decades of analogue is being converted to digital,” it said. “Genpact and NDTV plan to capitalise (on) this untapped market.”

The statement did not give any investment details.

Genpact, 40 percent owned by General Electric Co., employs 20,000 people serving international clients in the automotive, energy, retail and IT sectors. It offers services in finance, accounting, underwriting and insurance claim processing.

General Electric in 2004 sold 60 percent of its back-office arm, GE Capital International Services, to private equity firms General Atlantic Partners and Oak Hill Capital Partners as part of a plan to help the unit win more customers.

Indian news broadcaster NDTV, operates news channels in Hindi and English. Its English-language channel — NDTV 24X7 — has a near-60-percent share of the market. In the broadcast of news in Hindi, the company trails leaders T.V. Today’s Aaj Tak and Star News.

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