Press release from Business Wire India
Source: VenSat Tech Services Pvt Ltd
Tuesday, November 02, 2010 06:04 PM IST (12:34 PM GMT)
Editors: General: Consumer interest, Entertainment; Business: Business services, Information technology, Media & entertainment; Technology
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VenSat Unveiled Accelerates Growth Trajectory
Studios in Chennai and Hyderabad Established, VC Funding Secured, Experienced Hollywood Executives on Board, VenSat America Announced
Hyderabad, Andhra Pradesh and Chennai, Tamil Nadu, India, Tuesday, November 02, 2010 -- (Business Wire India) -- Incorporated in July 2009 and in active production since December 2009, VenSat Tech Services Pvt Ltd (VenSat) is a rapidly growing provider of animation, visual effects, motion comics and 2D/3D conversion services to the global marketplace. Almost a full year in operation, VenSat, today announced its business plans and roadmap for the future of the company
VenSat's lead investor is IndoUS Venture Partners (IUVP). Based in Bangalore, India, IUVP is a leading venture capital firm that provides funding to new or growing businesses in India. Its principals are individuals of Indian lineage who have built exceptionally successful careers, and companies, and now operate in investments in Indian companies to capitalize on emerging opportunities in the India of the 21st century.
VenSat is currently best known internationally for having created all of the visual effects (VFX) for the 2010 motion picture releases, 'DABANGG' and some of the complex VFX sequences for 'ROBO', which have become two of the highest grossing films in India this year. Additionally, the company recently delivered a full-length animated motion picture for a major European entertainment group and all VFX for 'LAND OF THE ASTRONAUTS' for Studio Cineville, in the U.S., which was premiered and showcased at the Montreal Film Festival and at the recently concluded Mumbai Film Festival. Further, VenSat is currently among the handful of Indian studios already doing 2D/3D conversion work for major U.S. theatrical features.
In an aggressive launch establishing a significant presence in the U.S. entertainment market for animation, VFX, motion comics and 2D-to-3D conversion services, VenSat today announced the formation of the media and entertainment company's new U.S. business entity, VenSat America. Making the announcement, Satyanarayana Mudunuri and Venkatesh Roddam, Executive Directors of VenSat, said the new firm will be headed by veteran U.S. and India entertainment executive and entrepreneur, Ken Silverman, who has been named CEO and President, while longtime visual effects producer and VFX studio executive, John Follmer, has joined as Executive Vice President and COO. The company will be initially based in Los Angeles and New York City.
VenSat America will serve as the company's lead to the U.S. motion picture, television, home entertainment, gaming, and mobile entertainment markets, and will develop innovative co-production arrangements linked to the company's animation, VFX, motion comics and 2D-to-3D conversion services. Content amalgamation, including for 3D television, content production, and content distribution, for all markets and platforms, will follow in 2011. Strategic investments into one or more U.S. entertainment companies are now under active consideration.
VenSat has named Ken Silverman as the President and Chief Executive Officer - VenSat America. Silverman is an internationally renowned media strategist and entrepreneur with more than three decades' experience at the forefront of the U.S. entertainment and communications fields. Prior to VenSat, Silverman has almost 14 years involvement with and within the Indian M&E industry, including 8 years as Senior U.S. Strategic Advisor for Tata Elxsi, Ltd., a unit of the Tata Group, and has been responsible in bringing U.S. assignments to Indian M&E companies from major U.S. studios and animation companies He will team with another industry veteran, John Follmer, to bolster the organization's growth strategy. Follmer, the Executive Vice President and Chief Operating Officer - VenSat America, has more than 30 years of experience in visual effects, and has worked on more than 50 movies. Follmer was formerly Senior VP and Head of VFX production at Double Edge Digital, VP and Head of Production at MetroLight Studios, and VP at Calico Entertainment.
To further strengthen the go-to-market strategy, VenSat has appointed David Uslan and Mohammed Ghouri as Business Advisors. Uslan comes with over 10 years experience in feature films and television development, motion comics, publishing, and distribution, and will be focusing on emerging opportunities in the field of motion comics, based out of Los Angeles. Mohammed, who has over 20 years experience in financial services, healthcare, and media and entertainment, will be driving strategic opportunities based out of New York City.
Other VenSat Senior Executives include Naresh Jhangiani-the Senior Vice President of Human Resources and Corporate Strategy; Kulwinder Singh-Chief Marketing Officer; Wg Cdr Satyanandam-Chief Operating Officer India; and M. Alagarsamy Mayan-Global Delivery Head.
In making today's announcement, Mr. Roddam said, "Expansion of our rapidly growing operations into the U.S., and being part of the mainstream American entertainment industry, is a natural extension of our company's great aspirations and recognized capabilities. We're already linked with animation, VFX, motion comics, and 3D conversion entities in Los Angeles, so the timing for this expansive move became ideal." He added, "In Ken Silverman, we have found an accomplished U.S. media executive, who is also among the best known and most respected American entertainment industry leaders in India. There's virtually no aspect of media and entertainment, in the U.S. or India, with which he has not had direct engagement."
Mr. Mudunuri noted, "The VenSat mission since day one has been to serve front-ranking U.S. creators of animated and live-action content for motion picture theatres, television, and all other delivery platforms. Having determined this year to aggressively expand into 2D-to-3D conversion services as well, the decision to now enter the American market was a given. That said, John Follmer became a natural choice to head-up operations in the U.S., as well as to oversee the integration between our two studios in India and our American front-end. He has vast VFX experience, at both the creative and executive levels, coupled with a rich background animation and pioneering works in 3D."
Commenting on the launch of VenSat America, Mr. Silverman said, "I am delighted to lead VenSat's participation in the mainstream U.S. media and entertainment industries. The group's talented professionals, substantial resources, and proven accomplishments, make them a standout in India, and now we've truly gone global in a meaningful way".
About VenSat Tech Services Pvt Ltd.
VenSat Tech Services, Pvt. Ltd. was founded by Venkatesh Roddam and Satyanarayana Mudunuri, in 2009. Mr. Roddam is a veteran of 20 years in international banking, including almost a decade with Deutsche Bank, last serving as Managing Director responsible for the business operations of the Corporate Trust and Securities Services business for 31 markets globally , based in Frankfurt. Prior to the launch of VenSat, Mr. Roddam was CEO of one of the leading Business Process Outsourcing services groups. Mr. Mudunuri has, for over three decades, been one of India's most respected financial executives. He is the former Executive Vice President, Finance, for ITC, Ltd., the diversified conglomerate which is one of the most esteemed companies in India. He also served as CFO for one of India's leading Business Process Outsourcing services companies.
The rest of the VenSat Senior Management team come from longtime leadership positions in VFX production, animation, human resources, technology and marketing. The production team, now over 100 artists strong, in two animation/VFX studios in Chennai and Hyderabad, will be ramped-up to 250, during the first quarter of 2011, and is expected to surpass 400, as increased US-initiated demand requires. The VenSat creative teams, while at VenSat and their prior studios, have created visual effects for more than 200+ motion pictures for clients in India, the U.S., and Europe, and more than 50 animated motion pictures, TV episodes and DVD titles.
To know more please visit www.VenSat.in
To view the pictures, please click on the links mentioned below:
L-R- Venkatesh Roddam, Executive Director and Satyanarayana Mudunuri, Executive Director - VenSat
VenSat Management Team-(L-R)-Kulwinder Singh-CMO; Naresh Jhangiani- Sr VP-HR and Corp Strategy; Venkatesh Roddam-Exec Dir; Satyanarayana Mudunuri- Exec Dir; Wg Cdr Satyanandam-COO India
Venkatesh Roddam, Executive Director and Satyanarayana Mudunuri, Executive Director - VenSat 1
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/1(14).JPG
L-R- Venkatesh Roddam, Executive Director and Satyanarayana Mudunuri, Executive Director - VenSat
http://www.BusinessWireIndia.com/attachments/2(8).jpg
VenSat Management Team-(L-R)-Kulwinder Singh-CMO; Naresh Jhangiani- Sr VP-HR and Corp Strategy; Venkatesh Roddam-Exec Dir; Satyanarayana Mudunuri- Exec Dir; Wg Cdr Satyanandam-COO India
http://www.BusinessWireIndia.com/attachments/3(3).JPG
Venkatesh Roddam, Executive Director and Satyanarayana Mudunuri, Executive Director - VenSat 1
CONTACT DETAILS
Kulwinder Singh Chief Marketing Officer, VenSat Tech Services Pvt Ltd, +91 9959616192, Kulwinder@VenSat.in
Sarah Jacob Tharakan Account Manager, 20:20 Media, +91 9160101266, sarah.tharakan@2020india.com
KEYWORDS
CONSUMER, ENTERTAINMENT, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
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