| Kulkarni was the erstwhile COO of Carat Media, the Aegis group's Indian media services operation. |
| Post acquisition, Kulkarni will continue to lead Allied Media as a key stakeholder, the company said in a statement. |
| Percept also announced the launch of Percept Media, its integrated media offering under which it will bring in its existing services under Percept Media. |
| These include Posterscope (outdoor media business), PDM (event and sports marketing), Web Percept, P9 Integrated, Tiger Sports and Percept Activa. |
| The new entity is expected to cross a capitalised billing of Rs 670 crore in 2007. |
| These include all of its media business, which was earlier committed to Carat India under the joint venture agreement with Aegis, that will now handled in-house. Some of these accounts include Pantaloon's (Future Group) and the RBI. |
| The integrated services will currently be offered only through Percept's Mumbai and Delhi offices before it's extended to at least 23 offices across India. |
| Percept Media currently has a team strength of 300 and this will further increase to about 350 by mid 2007. |
| Said Shailendra Singh, joint managing director, Percept Holdings, "In its first year of operations, Percept Media will rank amongst the top five media service businesses in India." |
| Shripad Kulkarni, CEO, Allied Media said "We will set a norm in the media business, by ushering in an era of ethical media buying and transparency." |
| The announcement comes on the back of an 'all cash' deal to buy back all of Aegis Group plc shareholdings in PDM India and Posterscope India. |
| However the Posterscope brand which belongs to Aegis will be transferred back to them, and Percept is expected to adopt a new name for its outdoor media division. |
| Percept has now formally exited its relationship with Aegis, said the company statement. |
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