Search
HTT media acquires VCCircle & TechCircle
July 30, 2020
HT Media has obtained Mosaic Media Ventures Private Limited, which runs the enterprise information platform VCCircle and tech news portal TechCircle, from its retaining company News Corp.
According to a BSE submitting, HT Media has acquired 100% paid-up share capital of Mosaic held by means of NWS Digital Asia PTE Limited and News Corporation for about Rs 7 crore.
In the deal, the board of HT Media has authorized charge of Rs 6 crore post-running capital adjustment even as revenue related milestone price as much as Rs 1 crore on a deferred basis will also be protected. The transaction is predicted to be completed earlier than August 30, 2020.
This is the second time VCCircle has been received via a bigger group. Earlier, New York-based News Corp that publishes main dailies such as The Wall Street Journal, The Australian in Australia and The Times within the UK, had received Mosaic In 2015 for an undisclosed quantity.