London and Mumbai-based Recreate Solutions, a company that has provided outsourcing services to a number of well-known interactive TV companies (including YooMedia and Visiware), has been acquired by Dallas-based Corpus, a provider of specialized technology services to the banking, financial services and telecommunications industries. Corpus, which claims to have numerous Fortune 100 clients across the telecom, finance and media sectors, says that the acquisition is designed to expand its presence in the media and entertainment sector. "The interactive media industry is maturing across platforms," Recreate CEO, Bhaskar Majumdar, said in a prepared statement (note: for an in-depth interview with Majumdar, see [itvt] Issue 6.10 Part 2). "It is consolidating around companies that have viable cost structures and revenue streams that generate healthy margins. Outsourcing of non-core technology functions is a proven method to increase profitability. Recreate Solutions is focused on providing high-quality outsourced solutions that add value to clients in our service segment: Digital Interactive Content. Under the Corpus banner we will now be able to take our solutions to Corpus’s Fortune 100 client base." Recreate, which is venture-backed, was founded in 2001 and now has clients in the US, the Americas and Asia.
Click http://www.itvt.com to subscribe to our free email newsletter, which contains all the news stories you see on this Web site, and additional breaking news and scoops, in-depth features, interviews, screenshots, videos, and other exclusive content you will not find anywhere else.
Filed under: Industry
