NetWeb founder buys out WebPercept

NEW DELHI: NetWeb Solutions founder Amit Tripathi has acquired the 51% stake of Percept Holdings in WebPercept, an online and digital media agency. Percept had earlier partnered with NetWeb Solutions to launch WebPercept as a 51:49 joint venture in 1999-20. Post acquisition, Web Percept will be re-christened id8 Labs.

Confirming the acquisition, Mr Tripathi told ET: “id8 Labs will be India’s first fully integrated online and digital media agency. We plan to merge our existing business franchises under Intentias, our brand in SEM & Media; IMACS, our brand in online research; and NetWeb, our brand in application development, into id8 Labs.”

id8 Labs plans to invest $5 million in the next 12-18 months through internal accruals, promoter funding and strategic investments to expand its franchise in India and global markets through offices in Dubai and Singapore. Post acquisition, id8 Labs, with capitalised billings of Rs 20 crore, will emerge as one of the top 3 players in the online and digital agency space in India, Mr Tripathi claimed.