Crest To Enter Into Software Business

Crest Communications, a post-production company, is planning to enter the business of software production. The company is floating a new joint venture with a Bangalore-based software production company, Vision Technologies.

According to A K Madhavan, vice president, business development at Crest Communications, the new venture is an intellectual property right company. A memorandum of understanding to this effect has been signed between the two entities. The new venture will have an equal shareholding by two partners and an initial investment of Rs 15 crore between the two partners.

"Vision Technologies is a leading South India based filmmaker and has produced more than 90 films. Our expertise is post production and they are content makers. There is a synergy between the two companies. The venture will involve an initial investment of Rs 15 crore between the two partners," he told Business Standard.

 

The company will cater to production activities that include live action or animated features and interactive multimedia programming. "The IPR company to be set up would cater to these areas apart from globally promoting their library of `intellectual property' to other prospective platforms. Crest will produce all the content in Hindi and other languages while Vision Technologies will produce content in Tamil, Telugu and Kannada," he added.

Madhavan said that the company will retain ownership rights of all the software and content generated. "The content will not be sold to any satellite channel and will be marketed in the sponsorship category. The new firm will explore new opportunities in domestic and overseas markets," he said.