Ybrant To Get Funding From UK-Based Experian
Ybrant Digital Ltd will soon receive financial backing from UK-based Experian PLC.
Interestingly, Experian is the same company from which Ybrant bought three digital properties earlier this year. In an aggressive inorganic expansion spree, Ybrant had purchased three distinctively independent forms of content & service oriented web portals like PriceGrabber.com which is a price comparison tool & aggregator for online shopping, LowerMyBills.com, which offered a unique prospect of offering good deals in the fixed cost utilities segment & an US specific education oriented web portal ClassUSA.com. The total acquisition cost of the three internet brands came to US$ 175 Million. However, they jointly hold the potential revenue bundle of US$ 283 Million.
Ybrant managed to cough up US$ 100 Million in cash & managed the remaining US$ 75 Million through a bridge loan from ICICI Bank and Credit Suisse.
Ybrant who had been harboring the ambition to be a publicly listed company on the Bombay as well as Madras Stock Exchange had its shares hovering at Rs. 78, which makes the company worth Rs. 3,949 Crores (US$ 717 Million). The California USA based company has its Global Delivery Centre at Hyderabad & Experian will soon appoint a team member to join Ybrant’s Board of Directors.
Owing to the investments in many different internet & technology oriented companies like Oridian in 2008, buy-out of Lycos in 2010, Web 3.0 in 2011, & few others, Ybrant has managed to get its hands into most of the profitable ventures online. Additionally, due to the recent acquisition from Experian, the company has even entered the emerging sphere of aggregation.
Experian’s interest in the firm is nicely summed up by Suresh Reddy, Chairman and MD Ybrant, “Experian believes that the combination of Ybrant and the assets that were acquired is going to be very strong. They were keen to participate on an equity upside”
Should Ybrant now focus internally to achieve organic growth or such acquisitions the only way to expand?
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2012-08-10 00:20:23
Source: http://www.watblog.com/2012/08/08/ybrant-to-get-funding-from-uk-based-experian/
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