Business Daily from THE HINDU group of publications
Friday, April 4, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Friday, April 4, 2008 ePaper | Mobile/PDA Version |
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News Update as at 18.00 hrs (IST)
Info-Tech Cyber Media acquires entire stake in JV MUMBAI: Cyber Media on Friday said it has acquired the entire stake in its joint venture with United Business Media (UBM) for an undisclosed amount. UBM-CyberMedia LLC is an equal joint venture between Cyber Media India and global business media company United Business Media Plc, Cyber Media said in a filing to the Bombay Stock Exchange. The joint venture publishes a monthly magazine, Global Services, which provides information for buyers and sellers for professional services in North America and Western Europe, the filing said. It also has a Web site. "Our focus will be to ensure that the company increase interaction between this community by stepping up our online and events activities. The company will also step up our presence in Western Europe through the online medium," Mr Hoshie Ghaswalla, Manag ing Director - Global Services said. "CyberMedia is the largest specialty media player in South Asia and has embarked on a global expansion plan. The acquisition increases the firms global footprint in the specialty media space," Mr Pradeep Gupta, Chairman - CyberMedia Group said. In late afternoon trade, shares of Cyber Media were trading at Rs 63.50, up 1.28 per cent on the BSE. - PTI
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