News Corp Continues Its Digital Investment In India With Acquisition of VCCircle
News Corp seems pretty determined to expand its business in India. As a part of its digital investments in India, the company has made acquisition of a digital media enterprise VCCircle.
The VCCircle network itself is a colossal business which runs couple of websites along with research platforms. News Corp has purchased the entire business including its news sites VCCircle.com and Techcircle.in, and research platforms VCCEdge, VCCircle Training and a content driven conference business.
As part of the new deal, the workforce of 100 people of VCCircle will join News Corp. The acquisition process will be finished in the ongoing month of March. Other details about the acquisition have not yet been disclosed.
During past few months, Media Corp spent huge amount of capital for the sake of acquisitions. It made huge investments in the month of November and December. In November, it bought 25% shares in PropTiger.com, India’s leading digital real estate marketing website, for $US30 million. One month later, the U.S media giant acquired a financial advisory business Bigdecisions.com, a service which helps in making finance related decisions and strategies. Other than these acquisitions, News Corp has a presence across India through its Dow Jones, The Wall Street Journal and Harper Collins Publishers businesses..
The organization, in return, anticipates massive revenue generation from the blooming tech market of India. Recent acquisition, too, has boosted News Corp’s confidence in its endeavors for expansion of its digital businesses. News Corp Chief Executive Robert Thomson said:
“This important 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; India is an increasingly meaningful part of our portfolio, which is itself increasingly digital and global.”
By the same token, VCCircle is also looking at this acquisition through rose colored glasses.
“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.”