The Times Group is close to picking up a stake in Percept Limited, an entertainment, media and communications company. Sources close to the development told that the Times Group may be investing close to Rs 100 crore for about 10% in Percept Ltd, which will be valued at Rs 1,000 crore. Sources added that the talks are at a fairly advanced stage and that a deal will materialise soon.
Founded in 1984, Percept Limited has a team of over 1,000 people and 62 offices in India and the Middle East and claims to have a capitalized billings of about Rs 2,600 crore (FY'10). Percept, which operates in three verticals, is engaged in TV and movie content, ad films, distribution, talent management, sports, wedding management, entertainment branding and marketing, branded entertainment, merchandising and entertainment IPs(Entertainment Group); media planning, buying and representation, outdoor media, retail media, rural media, digital media and digital IPs (Media Group) and advertising, brand communication, strategy, creative, public & media relations and integrated marketing communication consultancy services (Communications Group).
In 2006, Bennett, Coleman & Co. Ltd (part of the Times Group) invested an undisclosed amount in Percept Picture Company Pvt Ltd for an undisclosed stake.
There have been deals of such nature in the past. In October this year, Publicis Groupe announced an agreement to acquire a majority stake in 20:20 MEDIA, and social media consulting firm, 2020Social.
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