General Atlantic, Quadrangle buy CyberMedia partner Dice

NEW DELHI: CyberMedia's joint venture partner in the new company set up to establish a tech job board in India - CyberMedia Dice Careers Limited - has been acquired by two leading private equity firms, General Atlantic LLC and Quadrangle Group LLC.

General Atlantic and Quadrangle are equal partners in the transaction, having acquired the company from the current private investor owners, Elliott Associates.

The value of the deal however, was not disclosed by the concerned companies, but according to a Red Herring report, the Wall Street Journal estimates it at $200 million.

According to Abraham Mathew, CEO, CyberMedia Dice Careers, the CyberMediaDice partnership will remain unaffected.

CyberMedia, South Asia's first and largest specialty media house, in September, 2004, entered into an agreement with Dice Inc., the leading provider of online recruiting services for technology and engineering professionals in the United States, to focus on the rapidly growing technology recruiting sector in India.