The venture would provide technology services for media and entertainment firms looking to scale up in a quickly evolving market, the companies said in a statement.

The consortium has been formed with the objective of designing state of the art information systems using the best available software and technology solutions.

The three firms have made commitments of resources, a Media e2e official said. Hong Kong-based Media e2e is led by Atul Phadnis in India.

The venture would first look at Indian firms and then extend operations in the Asia-Pacific region and beyond, he said.

While Media e2e has expertise in this domain and niche applications, Oracle develops business applications focused on the media and entertainment industry while Wipro has huge infrastructure services and system integration capabilities.

"The media business is getting more organised by the day, especially in terms of revenue streams. The consortium will be equipped to streamline these solutions and also for any/every technological need, including revenue management and customer and subscriber management," said Atul Phadnis.

The consortium is in the process of meeting top broadcast and media and entertainment companies. The alliance is expanding its focus in other key Asia Pacific markets in the coming months.