Info Edge to acquire iimjobs

The online and offline service provider Info Edge (India), the owner of the popular job search site Naukri, informed that its board has approved the acquisition of Highorbit Careers, the developer of job portal, iimjobs.

Info Edge’s board of directors approved the proposal to acquire 100 per cent share capital of Highorbit Careers on a fully diluted basis for an aggregate cash consideration of about Rs. 80.82 crore. The company believes this acquisition which would help Info Edge further strengthen its position in the online recruitment solutions segment where its flagship brand Naukri.com has a leadership position.

Highorbit Careers Private Limited is engaged in the business of providing online recruitment services. It runs the job portal iimjobs. The company achieved a turnover of around Rs. 16.6 crore in FY19.

Info Edge (India) owns one of the leading job portals Naukri.com. The company is a leading provider of various portals related to online recruitment, matrimonial, real estate and education classifieds and related services in India.

On Monday, at 11:36 hours, the stock of Info Edge (India) was trading at Rs. 1,902.05, down by Rs. 25.20 or 1.31 per cent on BSE.