Cyber Media to get Rs 30 cr from TDA sale

tdaCash-strapped Cyber Media India Ltd. said its sale of US unit TDA group will generate funds of $4.58 mln (30.43 crores).

The deal for the sale of its wholly owned subsidiary TDA Group was announced yesterday.

The company added that the subsidiary accounted nearly half of its revenue last year.

Cyber Media has seen its revenue come down from about Rs 100 cr to about 50 cr in recent years due to the emergence of the internet, which has hit its print business.

The company´s value also depended on TDA which accounted for 71% of Cyber Media´s total net worth of 28.4 crores before the sale.

TDA Group is engaged in marketing content and communications based in Silicon Valley, and was acquired by Cyber Media in 2008. The purchase was painted as a strategic move to expand the services business of Cyber Media.

TDA Group, is a B2B content marketing and communication agency for the US high-tech industry. It plans, creates and manages content marketing programs for clients including IBM, Dell, Intel and Lenovo. It has 25 employees.

The Marketing Group Plc is a digital marketing and advertising agglomeration group.

CyberMedia is the largest specialty media house in South Asia. The group’s media business includes 12 media properties including Dataquest, PCOuest, Voice&Data, Global Services, DO Channels, DO Week. The group has twelve websites led by WWW.CIOL.com.

The company has been facing cash flow problems since the global financial crisis of 2008-09, and the transaction is expected to help ease its financial situation.

2016-09-28T15:25:17+00:00