Global IT research firm International Data Corporation (IDC) and Cyber Media (India) Ltd announced on Monday that they are ending their 23-year partnership. Cyber Media was IDC's local partner and a representative of its research business since 1987 providing data and trend analysis on the Indian IT industry.

“Effective February 28, the two companies will move forward on their individual paths….CyberMedia will explore diversification of its research activities into IT and other domains. IDC will expand its research business in India with a direct presence,” both firms said in a joint statement.

Following the announcement, shares of Cyber Media (India) Ltd gained about five per cent to close at Rs 24.95 in a weak market on the BSE.

IDC will locate its new India research business in Bangalore, and expects it to become operational in the current quarter. The company said it will hire a substantial number of research, consulting, management, sales, and support staff as part of its expansion.

"With India now representing one of the most important ICT markets in the world, IDC has decided to increase its investment in India. This investment will enable IDC to provide more comprehensive coverage of India's evolving ICT market and to better service the needs of IDC's customers in India,” said Mr Kirk Campbell, President and CEO of IDC. However, the investment details were not disclosed.

Mr Pradeep Gupta, Chairman and Managing Director of Cyber Media, said the emergence of many new growth areas has increased the need for reliable and well-researched information source.

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