Nikkei Inc, the Japanese media firm that owns the Financial Times and publishes Nikkei Asian Review, announced on Thursday that it has acquired a 25.99 per cent staked in Indian financial news startup NewsRise Financial Research and Information Services (NewsRise).
Financial details of Nikkei’s acquisition of the outstanding shares in the Indian media startup were not disclosed but the Japanese publisher said the deal is part of its strategic initiatives to expand its footprint in Asia.
Established in 2013, NewsRise publishes real-time financial news, research, and information for currency, debt, equity, and resources asset classes for use by banks, broking houses, asset managers, corporate treasurers, and individual investors. It has news bureaus in Mumbai, New Delhi, Kolkata, and Bengalaru.
Under the brand of Nikkei Markets, Nikkei and NewsRise have been jointly providing English-language news on Southeast Asian stock markets since April 2017, independently reporting from Malaysia, Hong Kong, and Singapore.
“With the capital tie-up, Nikkei and NewsRise will step up cooperation to deliver higher quality and quantity of the region’s market news,” Nikkei said in a statement.
The stake acquisition came less than two months after Nikkei acquired a majority stake in DealStreetAsia.
In May, Nikkei also announced a partnership with Chinese tech news portal 36Kr, aiming to boost coverage of thriving start-ups and technology sectors in China and across Asia.