News Corp acquires VCCircle
09 Mar 2015
News Corp, which has been increasing its presence in Indian digital space, has acquired VCCircle Network. Terms of the acquisition, which is expected to close in March, were not disclosed.
VCCircle network includes VCCircle.com, Techcircle.in, VCCEdge, VCCircle Training, in addition to a premium-content driven conference business, the New York-headquartered company said in a statement.
''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,'' said News Corp CEO Robert Thomson. ''India is an increasingly meaningful part of our portfolio, which is itself increasingly digital and global.''
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.
P V Sahad, founder and CEO of VCCircle Network, will report to News Corp senior vice president, strategy, Raju Narisetti.
''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 Sahad.
''Being a part of News Corp will now allow us to accelerate our already aggressive growth plans.''
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, an 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 Dow Jones, The Wall Street Journal and HarperCollins Publishers.
