CyberMedia India has informed the Bombay Stock Exchange (BSE) about its intention to end the long-standing business relationship with International Data Corporation (IDC). The two companies have been in a partnership since 1987, whereby CyberMedia was the representative for IDC's research business in India.
As per the report on BSE, starting February 28, the two companies will move forward on their individual paths, after a long and mutually beneficial partnership. While CyberMedia will explore diversification of its research activities in information technology and other domains; IDC will expand its research business in India through direct presence.
In an official communiqué, Pradeep Gupta, chairman and managing director, CyberMedia, says, "The emergence of many new growth areas has increased the need for reliable and well-researched information sources. CyberMedia plans to meet these customer needs by leveraging its existing media properties in emerging fields such as biotechnology, outsourcing, environment and entrepreneurship. In line with these well-established media properties, CyberMedia (CM) Research will expand its market research activities to biotechnology, outsourcing, environment and entrepreneurship, while continuing to offer information and research services in the ICT domain."
CyberMedia has 15 publications, including Dataquest, PCQuest, ciol.com, MIT's Technology Review, Voice&Data, BioSpectrum, Dare, Global Services and Living Digital and ld2.in.
Kirk Campbell, president and CEO, IDC, says, "With India now representing one of the most important ICT markets in the world, IDC has decided to increase its investment in India. This investment will enable IDC to provide more comprehensive coverage of India's evolving ICT market and to better service the needs of IDC's customers in India."
For the record, IDC is a global provider of market intelligence, advisory services and events for IT, telecommunications and consumer technology markets. For more than 46 years, IDC has been providing strategic insights to its clients to help them achieve their key business objectives.