Mumbai, July 19
VIDESH Sanchar Nigam Ltd has entered into a strategic agreement with France-based Thomson to bring solutions to its media and entertainment customers.
And for Thomson, this is in line with its two-year plan to grow revenues by Euro 1.5 to Euro 2 billion by the end of 2006 and to broaden the group's media and entertainment client base, notably in Asia, said a joint news release.
Thomson gains a foothold in the Indian market and will leverage the reputation of the House of Tatas, the Tata Indicom brand and VSNL's expertise and presence to grow its broadcast, network and telecom activities, it said.
The Thomson group was described as "the preferred partner to the Media & Entertainment Industries through its Technicolor, Grass Valley, RCA and Thomson brands."
Thomson also believes opportunities will open up for its Grass Valley broadcast and network activity and its Technicolor business.
Under the agreement, Thomson and VSNL will jointly explore opportunities, and intend to combine their respective expertise to offer high quality services and new technologies to the India media and entertainment markets.
With VSNL's bandwidth and services and Thomson's expertise in digital video technologies the companies will explore new opportunities in managing and delivering content for third parties such as broadcasters and content providers in India.
"The Media and Entertainment sector in India has seen unprecedented growth in the recent past primarily due to the increasing appetite of the Indian consumer, the potential for which is growing by the day. It is, therefore, a challenging task for service providers like us to provide state-of-the-art solutions which facilitate opportunities for growth for our Media and Entertainment Customers from this sector," said Mr N. Srinath, Director (Operations).