News Corp has signed a definitive agreement to acquire the VCCircle Network. VCCircle, which is one of India's leading digital data, information, training and conferences network, includes VCCircle.com, Techcircle.in, VCCEdge, VCCircle Training, in addition to a premium content-driven conference business.
Terms of the acquisition, however, have not been 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's chief executive Robert Thomson. "India is an increasingly meaningful part of our portfolio which is itself increasingly digital and global," he added.
The VCCircle acquisition builds on News Corp's recent digital investments in India. In November, News Corp acquired a 25 per cent stake in PropTiger.com, a 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.
VCCircle Network, which is owned by Mosaic Media Ventures, has about 100 employees across India, with its headquarters in Noida. Sahad and the entire management will become part of News Corp's India team. Sahad will report to News Corp's senior vice-president, strategy, Raju Narisetti.First Published : March 09, 2015