Accel Partners acquires minority stake in Indian digital media company
19 Dec 2011
US private equity fund Accel Partners has acquired a minority stake in unlisted digital media and content company Trivone Digital, the fund said in a release without disclosing details of the deal.
Accel Partners has completed 'Series A' investment in Trivone Digital, a Bangalore-based new-age digital media and content company, according to an Accel statement.
Trivone will use the funds to meet capital requirements and "to grow inorganically", Accel Partners said in a statement.
''Trivone, given the media and content expertise of the team, is well set to build a best in class digital media company,'' said Mahendran Balachandran, partner at Accel India.
''We are delighted to have Accel Partners on board and look forward to working closely with them as we chart out a growth path for ourselves. We believe that the expertise gathered by Accel Partners over 25 years of building more than 300 successful enterprises will hold us in good stead,'' said Subu Subramanyan, founder and CEO of Trivone Digital Services.
Trivone hopes to build on its strengths to create world class content, which will enable it to build Digital media properties and offer managed services to clients.
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