Cyber Media India Ltd and International Data Corporation (IDC) in a joint declaration have announced that they are ending their long-standing business relationship. CyberMedia was IDC’s partner and representative for its research business in India. The partnership, which started in 1987, provided vital data, trend analysis, and direction to the information and communications technology (ICT) industry in India.
Effective February 28, 2011, 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.
In a prepared statement, Pradeep Gupta, Chairman and Managing Director of CyberMedia, said, “The growing Indian economy is expected to maintain its momentum for several years. The emergence of many new growth areas has increased the need for reliable and well-researched information sources. CyberMedia plans to meet these customer needs by leveraging its existing media properties in emerging fields – viz. biotechnology, outsourcing, environment and entrepreneurship.”
He further said, “In line with these well-established media properties, CyberMedia (CM) Research will expand its market research activities to biotechnology, outsourcing, environment and entrepreneurship while continuing to offer information and research services in the ICT domain.”
Commenting on this development, Kirk Campbell, President and CEO of IDC, remarked, “IDC and CyberMedia have worked closely over the past two decades to successfully develop a clear picture of India’s rapidly developing ICT market and to bring global research and advisory services to the firms emerging from this dynamic market.” He added, “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.”
CyberMedia is the largest specialty media house in South Asia and amongst India’s top magazine publishers. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy.