Infomedia India Ltd, a special interest and directory publishing company, has formed a joint venture with publisher and information provider, Reed Business Information US (RBI US), a division of Reed Elsevier Group Plc. Reed will hold a 51 per cent stake in the resulting entity, Reed Infomedia India Pvt Ltd.
Commenting on the move, James Casella, Vice Chairman, Reed Business, who is also overall responsible for development of BRIC markets (Brazil, Russia, India and China), said, “Reed Business is excited by the opportunity to enter the fast-growing Indian marketplace. We are looking to combine Reed Business Information’s global brands and vertical industry expertise with the publishing capabilities and local knowledge of Infomedia India to create the pre-eminent portfolio of B2B titles in India.”
Stating that India was a priority market for Reed, Casella added, “India, with its growing consumerism, a buoyant economy, and mass affluent population, has opened up a market for critical business information – a space where Reed is the acknowledged leader.”
Prakash Iyer, Managing Director, Infomedia India Ltd, said, “We are delighted to be Reed’s publishing partners in India. With Infomedia’s local industry insights and Reed’s global expertise, we are hoping to provide Indian businesses with high-quality content in magazines that become mandatory reading.”
Reed Business Information is the world’s largest B2B publishing unit with revenue of $2.3 billion and operating profits of $400 million. It offers business professionals in media, manufacturing, electronics, construction and retail industries more than 100 market-leading business-to-business publications, 75 webzines and web portals, custom publishing, directories, research and direct-marketing lists.
Reed’s portfolio includes titles such as Variety, JCK, Control Engineering and Logistics Management. This JV will bring the titles from Reed Business Information to India.