" There's nothing right now that we're doing in terms of changing or buying HT Media's stake in the JV with Velti," Velti CEO, Alex Moukas told MediaNama. Velti has two business operations in India - around three years ago, it set up a mobile marketing joint venture with HT Media, and last year, it bought Air2Web for around $19 million. Moukas also told us that Velti was planning to launch Mobclix, its mobile advertising exchange, in India. Excerpts from our interview with Moukas: MediaNama: What are you doing in India? Why do you have two businesses in India - Air2Web and the joint venture with HT? Moukas: We have a joint venture with HT, and have some products and customers there. For corporate and accounting reasons, investors told us we have to consolidate because the HT Media stake is a minority, we decided we have to have something more solid, with the Air2Web acquisition. We're supporting the JV, going after customers, offering all of the services and products of Velti, and support HT Media's customers remotely. MediaNama: Is Air2Web supporting the joint venture with Velti? Moukas: Of course MediaNama: What's the difference between the client base of the two ventures? Moukas: I can't really get to that level of detail. We fully support them. MediaNama: Air2Web was always an enterprise focused venture, whereas HT is... Moukas: Of course, we are training the local folks to support the broader set of Velti tools. After the acquisition, we started training Air2Web on the Velti tools…
