Mumbai: Geodesic Ltd said on Tuesday it has signed a strategic deal with Zee Entertainment Enterprises to launch real time entertainment applications for mobile and internet-enabled devices.
Zee and Geodesic have formed a new company, ITM Digital Pvt Ltd, to address the “hugely growing market for content convergence and mobile value-added services,” it said in a statement to the National Stock Exchange.
Financial details were not provided.
ITM Digital will launch interactive internet TV on mobile and desktop platforms which will stream over 20 live television channels and several on-demand video channels, it said. added.
Besides, the two companies are exploring opportunities to extend the alliance to combine Zee group’s other entertainment assets and Geodesic’s extended mobile products portfolio, it added.
At 11.26 a.m., shares in Zee were up 2.2% at Rs323.25 while Geodesic was down 1.12% at Rs83.8 in the Mumbai market.