Bangalore-based MM Activ Sci-Tech Communications Pvt Ltd has entered into an agreement with a media house Cyber Media (India) Ltd to acquire its biotech business magazine BioSpectrum for an undisclosed amount, as per a stock market disclosure.
“The deal was a part of the realignment at CyberMedia to focus on its core areas,” said Pradeep Gupta, chairman and managing director of CyberMedia.
BioSpectrum covers the areas like bio pharma, bio agriculture, bio informatics, bio industrial, bio suppliers and bio services.
Jagdish Patankar, managing director of MM Activ, said, “BioSpectrum is a well-recognised and acclaimed brand in the biotechnology sector. With our current presence in events in life sciences, agriculture and food & nutrition, this acquisition will help us provide a wider offering to our customers.”
MM Activ is engaged in creating, planning, developing and implementing national and international trade shows.
CyberMedia is a specialty media house in South Asia having media properties like Dataquest, PCQuest, Voice&Data, BioSpectrum, Global Services, DQ Channels and DQ Week. Cyber Media closed FY13 with revenues of Rs 71.6 crore against Rs 75.7 crore in the previous year. It reported a net loss of Rs 1.5 crore compared with net profit of Rs 14.4 lakh in FY12.
(Edited by Joby Puthuparampil Johnson)