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Tag: Azim Premji

  • Amagi: KKR-backed Emerald leads US$35 million funding; buys stake

    Amagi: KKR-backed Emerald leads US$35 million funding; buys stake

    MUMBAI: Emerald Media, the Pan-Asia company backed by the leading global investment firm KKR, has been keen to invest in the media and entertainment sector. Today, it announced acquisition of a significant minority stake in Amagi Media Labs (‘Amagi’), the leader in targeted TV advertising and cloud-based TV broadcast infrastructure.

    Premji Invest, the investment arm of Azim Premji (an existing shareholder), is also participating in this combination of primary and secondary US$35 million (Rs 237 crore/ 2.4 billion) Series D round. Mayfield India and Nadathur Holdings will continue to remain invested in Amagi.

    The growth capital from this round of funding will enable Amagi to expand its targeted advertising platforms globally, enter new international markets for its cloud-based managed broadcast services and introduce a host of products to cater to the various needs of TV broadcasters and OTT networks.

    Emerald Media is led by industry veterans Rajesh Kamat and Paul Aiello, supported by an experienced team of investment and operating executives. Paul and Rajesh together have a combined experience of more than 30 years in the industry and bring a unique blend of operational and investment acumen to their business approach.

    Headquartered in Bengaluru with offices in New York City, London, and Hong Kong, Amagi is a next-generation media technology company providing cloud-based managed broadcast services and targeted advertising platforms to customers, worldwide. Amagi enables TV networks to create a complete broadcast workflow on the cloud and deliver content over satellite, cable, IPTV or OTT (Over-The-Top) platforms. Using Amagi’s patented technologies, advertisers can target audiences at a regional level across traditional TV and OTT multiscreen platforms.

    Amagi has today scaled up to be one of India’s largest TV ad networks, playing around a million ad seconds every month on premium TV channels. With numerous installations of Amagi’s playout and edge insertion servers around the world, they are already a global force in the broadcasting technology domain. Amagi has deployments in over 30 countries for leading TV networks and is India’s largest TV Ad network supporting more than 3,000 brands.

    The growth capital from this round of funding will enable Amagi to expand its targeted advertising platforms globally, enter new international markets for its cloud-based managed broadcast services and introduce a host of products to cater to the various needs of TV broadcasters and OTT networks.

    Amagi co-founder Baskar Subramanian said, “Emerald Media has a strong understanding of the TV broadcast industry and the OTT space. Their domain expertise and regional and global media relationships will help us further leverage the transition of the TV broadcasting industry to the cloud and expand our international footprint.”

    Emerald Media managing director Rajesh Kamat said, “Amagi has harnessed the transformative power of technology (both hardware and software) to change the way TV networks and brands perceive content delivery and monetisation. Emerald will assist Amagi in driving this change by providing a distinctive combination of capital, domain knowledge and management bandwidth.”

    Emerald Media MD Paul Aiello added, “Baskar, Srinivasan and Srividhya are the pioneers of targeted-TV advertisement in India. Amagi’s high degree of workflow automation make TV networks future-ready compared to traditional models.”

  • Amagi: KKR-backed Emerald leads US$35 million funding; buys stake

    Amagi: KKR-backed Emerald leads US$35 million funding; buys stake

    MUMBAI: Emerald Media, the Pan-Asia company backed by the leading global investment firm KKR, has been keen to invest in the media and entertainment sector. Today, it announced acquisition of a significant minority stake in Amagi Media Labs (‘Amagi’), the leader in targeted TV advertising and cloud-based TV broadcast infrastructure.

    Premji Invest, the investment arm of Azim Premji (an existing shareholder), is also participating in this combination of primary and secondary US$35 million (Rs 237 crore/ 2.4 billion) Series D round. Mayfield India and Nadathur Holdings will continue to remain invested in Amagi.

    The growth capital from this round of funding will enable Amagi to expand its targeted advertising platforms globally, enter new international markets for its cloud-based managed broadcast services and introduce a host of products to cater to the various needs of TV broadcasters and OTT networks.

    Emerald Media is led by industry veterans Rajesh Kamat and Paul Aiello, supported by an experienced team of investment and operating executives. Paul and Rajesh together have a combined experience of more than 30 years in the industry and bring a unique blend of operational and investment acumen to their business approach.

    Headquartered in Bengaluru with offices in New York City, London, and Hong Kong, Amagi is a next-generation media technology company providing cloud-based managed broadcast services and targeted advertising platforms to customers, worldwide. Amagi enables TV networks to create a complete broadcast workflow on the cloud and deliver content over satellite, cable, IPTV or OTT (Over-The-Top) platforms. Using Amagi’s patented technologies, advertisers can target audiences at a regional level across traditional TV and OTT multiscreen platforms.

    Amagi has today scaled up to be one of India’s largest TV ad networks, playing around a million ad seconds every month on premium TV channels. With numerous installations of Amagi’s playout and edge insertion servers around the world, they are already a global force in the broadcasting technology domain. Amagi has deployments in over 30 countries for leading TV networks and is India’s largest TV Ad network supporting more than 3,000 brands.

    The growth capital from this round of funding will enable Amagi to expand its targeted advertising platforms globally, enter new international markets for its cloud-based managed broadcast services and introduce a host of products to cater to the various needs of TV broadcasters and OTT networks.

    Amagi co-founder Baskar Subramanian said, “Emerald Media has a strong understanding of the TV broadcast industry and the OTT space. Their domain expertise and regional and global media relationships will help us further leverage the transition of the TV broadcasting industry to the cloud and expand our international footprint.”

    Emerald Media managing director Rajesh Kamat said, “Amagi has harnessed the transformative power of technology (both hardware and software) to change the way TV networks and brands perceive content delivery and monetisation. Emerald will assist Amagi in driving this change by providing a distinctive combination of capital, domain knowledge and management bandwidth.”

    Emerald Media MD Paul Aiello added, “Baskar, Srinivasan and Srividhya are the pioneers of targeted-TV advertisement in India. Amagi’s high degree of workflow automation make TV networks future-ready compared to traditional models.”

  • Wipro names Abidali Neemuchwala as new CEO

    Wipro names Abidali Neemuchwala as new CEO

    NEW DELHI: Information technology services provider Wipro has appointed Abidali Z Neemuchwala as the new CEO.

     

    Prior to this, he was group president and chief operating officer of Wipro for the past nine months. At present, he is not on the board of Wipro.

     

    A Tata Consultancy Services veteran, Neemuchwala worked for 23 years in leadership roles.

     

    The Bangalore-based Wipro said current CEO TK Kurien will become the executive vice chairman and will be a member of Wipro board till March 2017.

     

    A spokesperson of Wipro told Indiantelevision.com that the aim was to ensure smooth transition of executive powers to the new CEO.

     

    Neemuchwala will handle the mandate to take Wipro through the next phase of growth.

     

    Wipro chairman Azim Premji said, “As executive vice chairman, Kurien will enable Abid by leveraging his deep relationships with customers and chart out a new technology roadmap for Wipro.”

     

    Premji said Neemuchwala has effortlessly assimilated into the culture and ethos of Wipro in his nine months as the group president and chief operating officer.

     

    Kurien will continue to report to Premji and will remain a member of the Wipro Board until 31 March, 2017.

     

    “I am convinced that we are well positioned to seize new opportunities in today’s marketplace. I look forward to working with the thousands of Wiproites to take our company to greater heights,” said Neemuchwala.

     

    Both Kurien and Neemuchwala will be on the Board of the company. Both these appointments are effective 1 February, 2016.

     

    Neemuchwala came to Wipro as the group president and COO from 1 April, 2015 from TCS, He has been handling the service lines of global infrastructure services, business application services, business process services, and advanced technology solutions. He will also head business operations; the geographies comprising Continental Europe, Africa, and LATAM; strategic engagements, advisor relationships as well as the marketing function.

     

    An Electronics & Communication engineer from NIT, Raipur, with a Masters in Industrial Management from IIT, Mumbai, Neemuchwala has experience in business and technology operations, process, and consulting.

  • Amagi Media raises capital from Premji Invest, Mayfield Fund

    Amagi Media raises capital from Premji Invest, Mayfield Fund

    MUMBAI: Advertising network Amagi Media Labs has raised its next round of investment from Premji Invest, the family office of Wipro’s chairman, Azim Premji and a continuing investment from Mayfield Fund.

     

    The funds raised from this round will be used to bolster the company’s growth plans both in India and globally. In India, the funds will be primarily used for expanding its geo-targeting network including addition of new channels to its bouquet.

     

    Having recently opened an office in Japan, Amagi also intends to use these funds to set up local offices in UK, Singapore and the US to expand its growing client base for its broadcast technology platform.

     

    Amagi Media co-founder Baskar Subramanian said, “At this stage in our development, it is critical that we get the right investors on board whose vision matches ours and in this respect we are extremely pleased to have Premji Invest associate with us. This investment also reconfirms Mayfield Fund’s continuing confidence in our execution and growth. With over 300 per cent growth in revenues from last year, we have become the de facto choice for brands in their pursuit for effective advertising.”

     

    As a highly diverse market with varied culture, languages, food habits and purchasing parities, India poses a unique marketing challenge. Addressing this need is Amagi’s USP. National and regional brands use Amagi’s platform to target their advertisements to specific markets or regions depending on their requirements.

     

    Initially incubated in NSRCEL at IIM-Bangalore, Amagi Media had previously raised $12 million from Nadathur Investments and Mayfield Fund.

  • IT, Entertainment industries complement each other:Premji

    IT, Entertainment industries complement each other:Premji

    MUMBAI: A keynote address on the first day of Frames, the convention for the business of entertainment, was given by Wipro’s Azim Premji. He spoke about how technology benefits the entertainment industry and how they complement each other.

    Wipro chairman and managing director Azim Premji and United International Pictures CEO and chairman and UK Films Council export and import chairman Stewart Till gave the keynote address at the plenary session of FICCI Frames.

    “Entertainment and IT complement each other. There is convergence happening between entertainment, IT and communications industries. This is good as all three can be economic growth drivers. Entertainment has to reinvent itself. While entertainment has been about telling stories whether on film or television, the variety and quality of those stories as well as the delivery platforms will change,” said Premji.

    While Premji spoke on ‘The coming of the ICE age,’ Till spoke on how Indian films can enjoy more success around the world and how can Hollywood films increase their box office in India.

    “The overseas market for Indian films is around $150 million from the 20 million NRIs abroad. Producers should be encouraged to make cross over films to cater to address people from other ethnicities,” Till said.

    He listed out five points that producers should keep in mind to cater to a larger audience. They are as follows:

    Adopt the Chinese model, wherein films like Crouching Tiger Hidden Dragon were made.
    Adopt the Korean and Japanese model to achieve excellence in a specific genre like horror.
    Add American and European actors in the film
    Improve production quality
    Build close relationships with American and European companies.

    “The time is right to raise your horizons to the faraway horizons,” he emphasized. Elaborating on how Hollywood films can increase their box office in India¸ he said “The Hollywood movie titles should be released aggressively and the focus should be on marketing as many Hollywood titles as possible. Apart from that, producers should take advantage of the current multiplex scenario.”

    He concluded, “In the next decade, Indian audiences will embrace more and more American and European films and Indian producers will realize the full potential of the worldwide market.”

    Premji said that LPS were replaced by CDs. Colour TV sets replaced the black and white ones. In the film world, DVDs have replaced VCRs. News channels, he noted, have altered how newspapers function. “Apple’s success with the iPod has shown the convergence of entertainment and IT.

    Technological changes have meant that the relationship between the content creators and consumers is changing. Consumers want better stories and a better reception. Digitisation in terms of bits and bytes allows them to get a better reception and also affords more choices. The influence of technology on animation and gaming is also being felt.

    “As IT and entertainment continue to complement each other, interactivity will become increasingly important. One is already seeing this in the mobile realm where viewers can participate in game shows.

    Mobility is becoming important. Studio employees need to communicate with each other while they are on the move. They need to talk on script plans etc.

    One problem for the entertainment industry lies in getting trained people. Premji says that they need to touch base with colleges at the final year. Said he, “They could offer courses with guranteed jobs for those who show promise. India has benefited from the animation field as it has a cost advantage vis-a-vis the US. This has helped India become an outsourcing hub.”

    Digitsation, he added, has helped the remastering of classics like Mughal E-Azham.