Velti Plc, a global provider of software platforms, applications and services for advertising agencies, mobile operators and the media, has entered into a new mobile marketing joint venture with Indian media group HT Media.

Velti Plc, a global provider of software platforms, applications and services for advertising agencies, mobile operators and the media, has entered into a new mobile marketing joint venture with Indian media group HT Media.

Velti has taken a 35 per cent stake in the joint venture, which will initially operate from HT’s offices in New Delhi as well as having a sales office located in Mumbai.
The new venture aims to service large network operators, brands and advertising agencies, as well as smaller regional companies across India. The venture will plan, execute and monitor media campaigns across all media channels using Velti’s technology.

The joint venture agreement, for which financial details were undisclosed, was signed during the HT Leadership Summit in New Delhi, at which Dr Manmohan Singh, Prime Minister of India, was a speaker.

Alex Moukas, CEO of Velti, said: “India is a key market for Velti and establishing the joint venture with HT represents a significant strategic move in our global expansion. We are delighted to be in partnership with a company that recognises the substantial opportunity the mobile channel represents. The mobile market in India is growing very quickly and across the country mobile uptake continues to outstrip Internet connections, so it’s a very exciting time to start this new joint venture.”