News Corp has pushed further into India with an agreement to buy VCCircle, an information, training and events company.
The deal is expected to close this month.
Based in Noida and with a staff of more than 100, the ten-year-old business runs news sites VCCircle.com and Techcircle.in in addition to research platform VCCEdge and training and events business VCCircle Training.
The last six months have seen two other News acquisitions in India, a $30 million deal to buy a quarter of PropTiger in November, and financial planning service Bigdecisions.com the following month.
News Corp Chief Executive Robert Thomson says the "significant investment is a sign of 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."
VCCircle Network founder and chief executive P.V. Sahad ays being part of News will enable it to accelerate growth plans: "For the past decade, we have built a strong franchise with proprietary data, information, content, and networking capabilities around India's digital business world," he says.
Sahad joins News Corp's India team and will report to strategy senior vice president Raju Narisetti.
VCCircle.com tracks M&A, venture capital, private equity, investment banking, and emerging companies and sectors, and was the first such website in India to launch a premium subscription-led offering, while Techcircle.in tracks India's booming technology startups.
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