News Corp Announces Acquisition of VCCircle, India’s Leading Digital Data, Information, Training & Conferences Network for ...
March 08 2015 - 7:30PM
Business Wire
News Corp announced the signing of a definitive agreement to
acquire the VCCircle Network, which includes VCCircle.com,
Techcircle.in, VCCEdge, VCCircle Training, in addition to a
premium-content driven conference business.
Terms of the acquisition, which is expected to close in March,
were not disclosed.
“This significant investment is a sign of our faith in India’s
future and our enthusiasm for working with and building up emerging
talents in the country,” said News Corp Chief Executive Robert
Thomson. “India is an increasingly meaningful part of our
portfolio, which is itself increasingly digital and global.”
“For the past decade, we have built a strong franchise with
proprietary data, information, content, and networking capabilities
around India’s digital business world,” said P.V. Sahad, Founder
and CEO of VCCircle Network. “Being a part of News Corp will now
allow us to accelerate our already aggressive growth plans.”
VCCircle Network is owned by Mosaic Media Ventures Pvt Ltd
and has about 100 employees across India, with its headquarters in
Noida. Sahad, and the management group, will become part of News
Corp’s India team. Sahad will report to News Corp Senior Vice
President, Strategy, Raju Narisetti.
The VCCircle acquisition builds on News Corp’s recent digital
investments in India. In November, News Corp acquired a 25% stake
in PropTiger.com, India’s leading online residential real estate
platform. In December, News Corp acquired BigDecisions.com, which
aims to help Indian consumers make smarter financial decisions
through interactive, decision-making tools powered by sophisticated
algorithms and data. News Corp also has a presence across India
through its Dow Jones, Wall Street Journal and HarperCollins
Publishers businesses.
About News Corp
News Corp (NASDAQ:NWS)(NASDAQ:NWSA)(ASX:NWS)(ASX:NWSLV) is a
global, diversified media and information services company focused
on creating and distributing authoritative and engaging content to
consumers throughout the world. The company comprises businesses
across a range of media, including: news and information services,
book publishing, cable network programming in Australia, digital
real estate services, digital education, and pay-TV distribution in
Australia. Headquartered in New York, the activities of News Corp
are conducted primarily in the United States, Australia, and the
United Kingdom. More information: http://www.newscorp.com.
About VCCircle Network
The VCCircle Network includes the following:
- VCCircle.com is a pioneer
in private equity, venture capital, and M&A related information
and analysis of the Indian investment ecosystem. It tracks M&A,
venture capital, private equity, investment banking, and emerging
companies and sectors, and was the first such website in India
to launch a premium subscription-led offering.
- VCCEdge is an online
subscription-based data platform with comprehensive information on
VC/PE/M&A deals, deal multiples, IPOs, directories of PE/VC
firms, investment banks and law firms, private and public company
information, company financials, shareholding structures,
professionals & key developments related to companies
throughout India. It primarily serves private equity and venture
capital firms, investment banks, law firms, with around 200
institutional clients.
- Techcircle.in, launched in
February 2011, is dedicated to tracking India’s booming technology
startups, including the people behind the companies, innovations,
products, strategies and startup financing.
- VCCircle Training, which
launched in 2011, is an executive education division that conducts
intensive workshops and seminars on finance, legal and regulatory
topics for corporate, financial and legal professionals.
- VCCircle Conferences is a
premium content-led conference division that conducts several
annual conferences across major Indian cities in industry
verticals and around focused B2B themes. Over the past seven years,
it has held some 100 conferences, hosting over 15,000
delegates and 1,500 speakers.
Forward-Looking Statements
This document contains certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management’s views and
assumptions regarding future events and business performance as of
the time the statements are made. Actual results may differ
materially from these expectations due to changes in global
economic, business, competitive market and regulatory and other
factors. More detailed information about these and other factors
that could affect future results is contained in News Corp’s
filings with the Securities and Exchange Commission. The
“forward-looking statements” included in this document are made
only as of the date of this document and we do not have any
obligation to publicly update any “forward-looking statements” to
reflect subsequent events or circumstances, except as required by
law.
News CorpJim Kennedy, 212-416-4064Corporate
Communicationsjkennedy@newscorp.com@jimkennedy250orRaju Narisetti,
1-646-649-6342 (mobile)Senior Vice President,
Strategyrnarisetti@newscorp.com@rajuorDaisy Dunlop,
212-416-3158Corporate Communicationsddunlop@newscorp.comorMike
Florin, 212-416-3363Investor Relationsmflorin@newscorp.com
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