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Reliance MediaWorks Ltd (RMW) has announced a strategic alliance with VenSat Tech Services Pvt Ltd to expand its visual effects (VFX), computer graphics (CG) and animation capabilities. Through the alliance, VenSat will set up a 220-member team in Chennai dedicated to Reliance MediaWorks projects.
Mr Anil Arjun, CEO, RMW, noted that the alliance would give it a direct presence in Chennai. Further to the development, Mr Venkatesh Roddam, Founder and Executive Director, VenSat, would join the RMW management team as the CEO of its film and media services division and move to Los Angeles, a company statement said.
Business restructuring
RMW has disclosed that it is exploring various options for restructuring the business, including creating of subsidiaries for its exhibition (Big Cinemas) and film and media services divisions. In the case of the VenSat alliance, there is no stake sale involved, clarified RMW. Financials related to the deal were not forthcoming.
The films and media services division includes two facilities in Mumbai. It is also setting up dedicated facilities with LA-based Digital Domain in Mumbai and London.
The combined headcount is over 1,000.
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