Swedish Startup Space

Media Mogul Rupert Murdoch Takes Majority Stake In Swedish VR-company

Written by on February 11, 2016

Rupert Murdoch’s company News Corp Australia in Real Estate VR-company Diakrit.

The Swedish company, which specializes in 360 photography of realestate and VR-experiences, now gets one of the worlds strongest media companies as a shareholder. More specifically News Corp Australia, a News Corp subsidiary. News Corp owns a string of news outlets throughout the world, for example the Sun, Fox News, Sky News and the New York Post.

“Diakrit’s 3D and rich media content makes buying property much easier by helping people visualize their dream home and enabling them to make more informed decisions. In this way Diakrit’s technology helps real estate agents and developers present their properties in a far more engaging manner”, Michael Miller, executive chairman of News Corp Australia, says.

Diakrit was founded back in 2001, and has more than 450 employees in five countries: Thailand, Sweden, Denmark, Norway and the U.S.

Breakit has previously reported that Sweden’s former PM Göran Persson, and SEB Ventures, has invested in the company. In an interview with Breakit back then, Diakrit’s Nordics Manager Pontus Lindholm said that the company expects to reach revenues of 180 million SEK, or $20 million.

Göran Persson’s company Pegroco held a 41 percent stake in the company, and sold its shares for 140 million SEK, or $16.6 million. That implies a total company value of 340 million SEK, or $40 million.

The companies has yet to disclose how much News Corp paid or how large exactly the stake is. However, Breakit can reveal that all other investors have been bought out by News Corp Australia. Only the founders are left with their pre-existing shares. According to Diakrit’s CEO Fredrik Bergman, News Corps involvement will not affect day-to-day operations in the company.

“It will be business as usual at DIAKRIT – the same offices, the same employees, the same brand. DIAKRIT will remain an independent, disruptive force in the industry and we will continue to think, compete and execute independently. All founders are keeping their equity and will, together with the existing Management team, continue running the company, reinforced by new majority shareholders who will provide world-class strategic support”, he writes in a statement at Diakrit’s web site.

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