News Corp is continuing its focus on India after it announced a deal to buy tech and startup-focused media company VCCircle.
Founded in 2005, VCCircle runs news sites VCCircle.com and Techcircle.in, in addition to research platform VCCEdge, VCCircle Training and an events business. The Noida-headquartered company has over 100 staff, and it will become part of the News Corp India organization, which already includes Dow Jones and Wall Street Journal.
The undisclosed deal is Media Corp’s third piece of business in India, each of which has closed in the past six months. The U.S. media giant put $30 million into property company PropTiger back in November, and it bought financial planning service Bigdecisions.com in December.
“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. India is an increasingly meaningful part of our portfolio, which is itself increasingly digital and global,” News Corp Chief Executive Robert Thomson said in a canned statement.
P.V. Sahad, Founder and CEO of VCCircle, said that the company’s acquisition would “accelerate our already aggressive growth plans,” although he did not provide more specific details of those goals.
India’s booming tech scene is attracting investors in large numbers — including SoftBank, Google Capital and a new Tiger Global fund — and higher funding rounds, all of which increases the importance of quality on-the-ground reporting, analysis and events. Added to that, this is an interesting deal because we don’t often see ‘pure-play’ media companies being acquired in India.