New Delhi, India (PressExposure) March 19, 2008 -- Interactive Media Company Magnon Interactive Pvt. Ltd. has entered into a 51:49 joint venture agreement with Hire Intelligence International, a market leader in computer rentals in Australia. Hire Intelligence is listed on the ASX (Australian Stock Exchange) and under this agreement Hire will be the exclusive marketing partner for Magnon in Europe, Australia, New Zealand, Africa and South America apart from some other territories across the globe.
This collaboration marks the successful entry of an Indian Web solutions company into the international scene. "We launched Magnon Interactive one year back as an aggressive foray into the international markets. Having already worked with over 100 overseas clients in such a short span of time, we thought it was the right time to surge ahead in other initiatives in the global space. This joint venture deal with Hire Intelligence is our next step towards expanding our business globally." said Mr. Vineet Bajpai, CEO, Magnon Solutions, the parent company of Magnon Interactive and a domestic Web solutions' powerhouse with an unparalleled track record in the Indian interactive media space.
Magnon Solutions is perhaps the first focused Web solutions company from Northern India to enter a joint venture of this structure and scale. The company, which is headquartered out of Delhi, also plans to start an office in Mumbai in April thus becoming one of the very few Indian interactive media companies to have offices in both the metropolitan cities.
For a company that was launched just eight years ago with a total capital of Rs.40,000, Magnon Solutions has come a long way. It has experienced a 100% year on year growth and is now poised to cross USD Two Million (approx. INR Eight Crore) in annual business. The company has over 1000 clients across 18 countries and offers a whole gamut of Internet services such as website designing and development, search engine optimization (SEO), multimedia solutions, web hosting, online advertising and internet marketing. Magnon's clients include several industry leaders like Ministry of Finance (GOI), United Nations Organization (UNO), ABN AMRO Bank, Hyundai Motors, HBO, Bata, Indiatimes, Schneider Electric, Daikin and Emaar MGF.