ITV

Tag: Crisil

  • TV18 acquires Crisil MarketWire

    TV18 acquires Crisil MarketWire

    MUMBAI: Raghav Bahl-promoted Television Eighteen Group is on an acquisition spree. Having gobbled up several internet firms, the company is now acquiring the assets of Crisil MarketWire (CMW), a financial news wire service from Crisil Ltd, for an undisclosed amount.

    The CMW business will be rechristened NewsWire18 Pvt LTD and will be a group company of the TV 18 Group. The transfer will take effect from 1 January. This follows the earlier decision of CRISIL and TVI8 to jointly develop a framework for business collaboration.

    CMW will transform itself from a real-time financial newswire into an integrated information terminal, targeted initially at the domestic market. “This transfer will further enhance CMW’s capability to meet customer demand for a good quality, locally-focused real-time news and data product that meets all the needs of financial market participants in India. The TV 18 Group is committed to grow the news and the information terminal business,” the company said.

    The old team will be retained and Crisil MarketWire Ltd. CEO Pankaj Aher will continue to head the business. “The new venture will carry with it all the staff of CMW across all locations and functions,” TV18 confirmed.

    Commenting on the acquisition, Bahl said: “The strategic fit that the newswire business will provide to our existing business will create tremendous shareholder value. This acquisition marks an important milestone in our journey towards becoming a more integrated news company.”

    Added Television Eighteen Group CEO Haresh Chawla, “We are very pleased to have the CMW business on-board and are committed to help it grow to its rightful potential. This transaction and the news and data platform complements our leadership brands in the financial news and information space and will help us extend our dominance to the institutional segment and serve it better.”

    The news business will have its own real-time market data and news terminal that is sourced from Tenfore Systems Ltd. Founded in 1989, Tenfore has direct end users in more than 60 countries, and boasts over 500 corporate clients including HSBC, ING and Rabobank and 45 wholesale / redistribution clients including Thomson Financial and GFI.

    Tenfore is head quartered in the UK, with offices in Germany, The Netherlands, and Switzerland.

  • Crisil and TV18 Group announce framework for business collaboration

    Crisil and TV18 Group announce framework for business collaboration

    MUMBAI: Crisil, the ratings, financial news, risk and policy advisory company and the Television Eighteen Group have today announced their decision to jointly develop a framework for business collaboration. 

    The association aims to strengthen their offerings in the financial information, news and market data and analytics space. The partnership dates back with the CNBC TV18 — Crisil Mutual Fund Awards, which has been well recognized by the industry and trade alike, states an official release.

    In the recent past, the two have also joined hands to provide coverage of the Indian budget, powered primarily by the news and research arms of Crisil. CNBC-TV18’s Emerging India Awards for SMEs is also powered by Crisil. The ratings and the financial news company has recently tied up with CNBC Awaaz for the Real Estate Awards that has been scheduled for November this year.

    This has prompted the two organizations to explore their inherent synergies to build on this business collaboration.

    Commenting on this development, Crisil Ltd CEO and managing director R. Ravimohan said “In this age of complex financial development of the financial markets, Crisil has found that partnering various leading firms serves the market’s needs more effectively. In line with this strategy, we believe this partnership will lead to the development of high quality offerings that will serve the market cost effectively.”

    According to TV18 CEO Haresh Chawla said: “This is a unique opportunity where our brand and media strength in the financial news space can align with Crisil’s proven research and news capabilities to build robust information and research based products.”