3i Infotech gets into media space for IT services

Adith Charlie on The Hindu Business Line, Mumbai, May 22

ICICI Bank-promoted software company 3i Infotech has ventured into providing IT services to the media and entertainment industry in India. The city-based firm will provide services related to consulting, systems integration and remote infrastructure management to companies in broadcasting media.

“When we did our research, we felt that it was prudent for us to extend our managed IT services offerings into the growing media and entertainment industry in India. We have been toying with this idea for some time now but entered this market only 4-5 months back,” Mr Amar Chintopanth, Chief Financial Officer and Executive Director, told Business Line.

However, 3i Infotech does not plan to develop specific software for the media industry, he added.
The company has already been signed up by a new television channel for providing end-to-end systems integration services. It has appointed a business head who will be in charge of developing new customer relationships.

According to Mr Chintopanth, the media and entertainment practice contributes around a million dollars in revenue to the company. “It is just a start-up as of now. Going forward, we expect this segment to be a fast growing one,” he said.

According to 3i Infotech’s Web site, its media and entertainment services would cut across television channels, FM Stations, Internet Protocol Television (IPTV), Teleport etc.

The media and entertainment industry in India is expected to grow at a compounded annual growth rate of 12.5 per cent to touch revenues of over Rs 1,05,200 crore by 2013 (from Rs 60,000 crore this calendar), according to the FICCI KPMG media and entertainment industry report.

3i Infotech has been a provider of IT products and transaction services for the financial services industry.