Media conglomerate News Corp has announced that it has entered into an agreement to acquire the VCCircle Network, which includes VCCircle.com, Techcircle.in, VCCEdge, VCCircle Training, in addition to a premium-content driven conference business VCCircle Conferences.
The deal is expected to close in March, however, the financial terms of the deal have been left undisclosed by the company.
VCCircle was founded in 2005 by Sahad P.V. Post acquisitions Sahad, and the management group, will become part of News Corp’s India team. Sahad will report to News Corp Senior Vice President, Strategy, Raju Narisetti.
Previously, in November, News Corp had acquired a 25% stake in Elara Technologies, which owns the Indian real estate website, PropTiger.com. Later in December, it had acquired Mumbai based FinDirect Services Pvt Ltd, the company behind financial planning startup BigDecisions.com. News Corp also has a presence across India through its Dow Jones, Wall Street Journal and HarperCollins Publishers businesses.
“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.”
“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.”