trending Market Intelligence /marketintelligence/en/news-insights/trending/aIsRyCj_aV_rON9zeB3BGA2 content esgSubNav
In This List

India's ZEEL buys website operator, takes stake in video discovery startup

Blog

Can private clouds ever really compete with the public cloud?

Blog

Esports, short-form content engaging more fans across Asia

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Gauging Supply Chain Risk In Volatile Times


India's ZEEL buys website operator, takes stake in video discovery startup

Zee Entertainment Enterprises Ltd. has agreed to fully acquire India Webportal Pvt. Ltd., the company said in a June 8 regulatory filing.

Zee Entertainment will acquire the remaining 49% stake in India Webportal from existing investors MMC Investments Holding Company II Ltd. and Ashok Kurien for $30.7 million.

Incorporated in 2010, India Webportal is a 51% subsidiary of Zee Entertainment. It operates websites such as such as India.com, Bollywoodlife.com and Cricketcountry.com.

Meanwhile, the Indian media conglomerate is also picking up a 12.5% equity stake in Bangalore-based startup Tagos Design Innovations Pvt. Ltd., an in-video discovery platform, for $2.5 million.

The acquisitions are in line with the company's strategy to consolidate its digital businesses, the company said.