United Business Media Llc (UBM) and CyberMedia India have announced that CyberMedia had acquired the entire equity in UBM-CyberMedia Llc for an undisclosed sum and that the business would become a wholly-owned unit of CyberMedia doing business as CyberMedia Llc. United Business Media will continue to provide services to support and enhance the products and services being delivered by CyberMedia.
Formerly a 50:50 JV, UBM-CyberMedia Llc has been publishing the monthly magazine ‘Global Services’, a website www.globalservicesmedia.com, and produces events for the global outsourcing and off-shoring community. All products and services are published under the Global Services brand name and endeavour to facilitate the global outsourcing industry by providing information and relevant platforms for buyers and sellers of professional services.
Launched in February 2006, the magazine has a print order of 30,000 amongst buyers of professional services in North America and Western Europe. The website attracts 21,000 unique and relevant professionals every month. Moreover, the joint venture has conducted close to 10 successful events bringing together this community.
“The response from our primary stakeholders (readers and advertisers) indicates that this platform has been very successful and has achieved its objective in less than 18 months. Going forward, our focus would be to ensure that we increase interaction between this community by stepping up our online and events activities. We will also step up our presence in Western Europe through the online medium,” said Hoshie Ghaswalla, Managing Director, Global Services.
The Global Services team will continue to remain co-located in the US and India. It has presence in other service provider and buyer geographies through a network of freelancers and consultants, and this would be strengthened in the immediate future.
“CyberMedia is the largest specialty media player in South Asia and has embarked on a global expansion plan. Acquiring the entire equity in this joint venture is part of this larger plan to ensure that CyberMedia’s global footprint in the specialty media space increases,” said Pradeep Gupta, Chairman, CyberMedia Group.