Pressmart says it turned down Google overtures
Hyderabad based Pressmart Media Ltd, a company that generates and maintains e-papers for global and Indian newspapers and magazines, says it has turned down an acquisition bid by Internet search engine firm Google Inc.
Last week, Pressmart raised $6 million (Rs 27.8 crore today) in private equity funding from US-based venture capital companies Draper Fisher Jurvetson and NEA-Indo US Ventures. The company plans to use the funds to open marketing offices in the US, the UK, Singapore and Dubai to expand its international client base.
Pressmart chief executive Sanjiv Gupta said Google executives approached the company in early March, expressing an interest in Pressmart and its licensed technology.
The Hyderabad company owns patented technology for digitizing newspapers and making them searchable on the Internet while preserving the same-as-in-print feel.
To read the full article, click here..
To read the ePaper, visit: http://epaper.livemint.com
Last week, Pressmart raised $6 million (Rs 27.8 crore today) in private equity funding from US-based venture capital companies Draper Fisher Jurvetson and NEA-Indo US Ventures. The company plans to use the funds to open marketing offices in the US, the UK, Singapore and Dubai to expand its international client base.
Pressmart chief executive Sanjiv Gupta said Google executives approached the company in early March, expressing an interest in Pressmart and its licensed technology.
The Hyderabad company owns patented technology for digitizing newspapers and making them searchable on the Internet while preserving the same-as-in-print feel.
To read the full article, click here..
To read the ePaper, visit: http://epaper.livemint.com
Labels: Draper Fisher Jurvetson, e-papers, Google, Indian newspapers, international Client, Internet, Magazines, Pressmart, Pressmart chief executive, Pressmart Media Ltd, Sanjiv Gupta, search engine
posted by PressMart Team at
1:46 PM
0 Comments
Links to this post
