News Corp. will acquire India’s VCCircle Network to bolster its digital push and investments in that country, the media giant said Sunday.
VCC is India’s largest management group offering data, business info, training and conference units aimed at private equity, venture capital and start-ups, News Corp said.
“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 Chief Executive Robert Thomson. “India is an increasingly meaningful part of our portfolio, which is itself increasingly digital and global.”
Terms of the acquisition, which is expected to close this month, were not disclosed.
“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 chief executive of VCCircle Network. “Being a part of News Corp will now allow us to accelerate our already aggressive growth plans.”
VCCircle Network is owned by Mosaic Media Ventures Pvt Ltd and has about 100 employees across India, with its headquarters in Noida. Sahad will report to News Corp Senior Vice President, Strategy, Raju Narisetti.
The VCCircle acquisition builds on News Corp’s recent digital investments in India.
In November, News Corp acquired a 25 percent stake in PropTiger.com, India’s leading online residential real estate platform. And 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.