Cyber Media and United Business Media merge

Cyber Media India Ltd has informed the following Press Release:

"United Business Media LLC (UBM) & Cyber Media India Ltd on April 04, 2008 has announced that Cyber Media has acquired the entire equity in UBM-CyberMedia LLC for an undisclosed sum and that the business will become a wholly-owned unit of CyberMedia doing business as CyberMedia LLC. UBM LLC will continue to provide services to support and enhance the products and services being delivered by CyberMedia.

Formerly a 50:50 JV, UBM-CyberMedia LLC has been publishing a monthly magazine Global Services, a website www.globalservicesmedia.com and produces events for the global outsourcing and off-shoring community. All products and services are published under the brand name of Global Services and endeavor to facilitate the global outsourcing industry by providing information and relevant platforms for buyers and sellers of professional services. Launched in February 06, the magazine has a print order of 30,000 amongst buyers of professional services in North America and Western Europe; the website attracts 21,000 unique and relevant professionals every month; and the joint venture has conducted close to 10 successful events bringing together this community. "The response from our primary stakeholders (readers and advertisers) indicates that this platform has been very successful, and has achieved its objective in less than 18 months. Going forward. our focus will be to ensure that the Company increase interaction between this community by stepping up our online and events activities. The Company will also step up our presence in Western Europe through the online medium" said Hoshie Ghaswalla, Managing Director, Global Services.

The Global Services team will continue to remain co-located in the United States and India. It has a presence in other service provider and buyer geographies through a network of freelancers and consultants and this will be strengthened in the immediate future.

"CyberMedia is the largest specialty media player in South Asia and has embarked on a global expansion plan - Acquiring the entire equity in this joint venture is a part of this larger plan to ensure that CyberMedia's global footprint in the specialty media space" said Pradeep Gupta, Chairman CyberMedia Group."