MUMBAI: Percept will be pumping in an initial investment of $ 5 million in the new media space. The company will launch Percept Knorigin – a tech media and service provider to strengthen its portfolio of media and marketing offerings.

Percept Knorigin, which will be headquartered in Bangalore, will be headed by Viraj Malik as its managing director and 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 with offices in Mumbai and Delhi.

Percept Holdings vice chairman and managing director Harindra Singh said, “The digital or new tech media is heavily matured in western countries like the 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.”

Percept Knorigin targets revenues of $10 million per annum and will expand to a team of 100 within the next three years, says an official statement.

Malik said, “We will be focusing on three broad areas – (1) create IP in digital advertising aggregation and build network of high quality online properties; (2) Leverage Percept’s content and network to build unique online and mobile assets and (3) 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.

Malik’s last assignment was with Infosys where he headed business development and led key client engagements for Infosys in the European and US markets for IT outsourcing business.