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| Exchange Disseminated Time | Cyber Media India Ltd has informed BSE regarding a Press Release dated January 10, 2011 titled "CyberMedia, IDC to end long-standing relationship"
Press Release:
"Cyber Media India Ltd and International Data Corporation (IDC) today announced that they will end their long-standing business relationship. CyberMedia was IDC's partner and representative for its research business in India. The partnership, which started in 1967, provided vital date, trend analysis and direction to the information and communication technology (ICT) industry in India.
Effective February 28, 2011, the two companies will move forward on their individual paths after a long-lasting, mutually beneficial partnership. 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.
"The growing Indian economy is expected to maintain its momentum for several years,” said Pradeep Gupta, Chairman & Managing Director of CyberMedia. "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 India properties in emerging fields, viz.biotechnology, outsourcing, environment and enterpreneurship. In line with these well-established media properties, CyberMedia (CM) Reasearch will expand its market research activities to biotechnology, outsourcing, environment and entrepreneurship while continuing to offer information and reaserach services in the ICT domain."
"IDC and CyberMedia have worked closely over the past two decades to successfully develop a clear picture of India's rapidely developing ICT market and to bring global research and advisory services to the firms emerging from this dynamic market," said Kirk Campbell. President and CEO of IDC. "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". |
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