Network18 to exit news terminal business NewsWire18, sell stake to Samara Capital
This is the second transition for the continuing founders, Pankaj Aher and Kalyanram Kodakalla, who first started CRISIL MarketWire in 2001 and subsequently set up NewsWire18 in 2006 with Network18.
"Samara has chalked out detailed plans and will be deeply involved in business strategy, growing our suite of products, expanding across other emerging markets, strengthening management team and implementing best in class systems and processes," NewsWire18 CEO Pankaj Aher said.
Samara Capital's investments include companies like Flemingo Duty Free, Thriveni Earthmovers, Monte Carlo Fashions, Thyrocare Technologies and Ratnakar Bank.
BMR Advisors acted as the sole transaction adviser to Network18.
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