HT Media acquires VCCircle and TechCircle from News Corp
HT Media has acquired Mosaic Media Ventures Private Limited, which runs the business news platform VCCircle and tech news portal TechCircle, from its holding company News Corp.
According to a BSE filing, HT Media has acquired 100% paid-up share capital of Mosaic held by NWS Digital Asia PTE Limited and News Corporation for Rs 7 cr.
In the deal, the board of HT Media has approved payment of Rs 6 cr post-working capital adjustment while a revenue linked milestone payment up to Rs 1 cr on a deferred basis will also be included. The transaction is expected to be completed before August 30, 2020.