Posted: Oct 09 2012, 05:39 PM IST
Mumbai
COMPANY  NEWS
Tata Elxsi calls off joint venture with A Squared Entertainment LLC, USA
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Tata Elxsi has exited the joint venture (JV) agreement with A Squared Entertainment LLC, USA on account of JV’s failure to perform as per the company's business expectations. Further, the company also called off the JV as it believed that continuing the partnership would involve further investments, which could turn out to be unviable for the company in the long run. In terms of the JV agreement, the company has exercised the exit option and accordingly, is no longer a member in the Joint Venture Company.

Back in January 2011, A Squared Entertainment (A2), an international kids’ entertainment company, and Tata Elxsi, the technology arm of the multi-billion-dollar Tata group, India’s largest and most respected business conglomerate, entered into an agreement for formation of A Squared Elxsi Entertainment LLC (A2E2), a joint venture, to create, develop and distribute original brands, including animated entertainment, digital gaming and originally-designed consumer products.

Tata Elxsi provides system integration and software development. The company caters to various industries such as aerospace, consumer electronics, entertainment, FMCG, telecom etc.

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