The Hindu : IFC invests $3 m in Dataquest

Online edition of India's National Newspaper
Wednesday, Jun 04, 2003

Business

Business

IFC invests $3 m in Dataquest

WASHINGTON JUNE 3. The International Finance Corporation, the private sector arm of the World Bank Group, is investing up to $3 million in a leading animation services company, Dataquest Management and Communications Ltd., now DQ Entertainment Ltd. The Hyderabad-based business provides outsourced and proprietary 2D/3D animation and multimedia services to North American and European production houses, according to a release.

According to the World Bank Group's director for Global Information and Communication Technologies, Mohsen Khalil, "This project is an important initiative for the future development of India's animation industry".

Dimitris Tsitsiragos, Director of IFC's South Asia Department, said, "This investment is part of our strategy to help innovative Indian companies expand into global markets, creating export earnings and employment".

"IFC's investment and presence will take our operations to the next level of technological advances by addition of the latest CGI/3D animation facilities," said Tapaas Chakravarti, Managing Director and CEO, Dataquest M & C.

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