CyberMedia, the Rs 58 crore speciality media house, is set to make its global foray with the launch of two international publications in the biotech and BPO space.
The company is also planning to ramp up its BPO unit which offers content management services to foreign publishing houses from 70 people to 200.
The expansion plans will require additional funds which may be raised through an initial public offering (IPO) said Pradeep Gupta, chairman, managing director and publisher of CyberMedia.
“We expect to firm up plans on how we will go about raising funds for our global expansion plans by next month. We expect to close the year with a turnover of Rs 75 crore and a profit of Rs 5 crore,” said Gupta.
The two international publications include ‘Global Outsourcing’, a magazine on the BPO industry targetting the US and UK markets and ‘BioSpectrum,’ a biotechnology publication that will be launched in Singapore. CyberMedia will tie-up with local partners for the distribution of the magazines.
The CyberMedia group’s activities are split into media—with nine speciality magazines and media services—market research, BPO and multi-media services. Media services currently account for 30 per cent of the company’s revenues.
CyberMedia had signed an MoU with McGraw Hill, the publisher of BusinessWeek, one of the largest circulated business magazine in the world to publish an Indian edition of the magazine. The company’s application to the government is still awaiting approval.
Gupta said that the formation of a Group of ministers (GoM) for looking into FDI proposals in print media earlier this week was good news for the company.
When approved, BusinessWeek India will see 60 per cent of the content coming from BusinessWeek and the rest will come from its Indian operations under CyberMedia.