Ybrant to buy Experian
2012-05-10Ybrant Digital has entered into an agreement to purchase PriceGrabber, LowerMyBills, and ClassesUSA.com. Experian has announced the news simultaneously in London on an agreement to sell PriceGrabber, its price comparison shopping business which powers Yahoo! and MSN shopping. This will add a business of US$283 million and employee strength of over 300, at an agreed consideration of US$175 million (INR 930 crores).
Steve Krenzer, President, Experian said, “I am very excited to join the Ybrant team. With Ybrant’s global footprint and our leading sites the combined group will make us the pacesetter globally.”
“By adding these established brands to Ybrant, we will offer interesting new products, and a world class lead generation platform,” said Suresh Reddy, Chairman & CEO, Ybrant Digital.
Experian and Ybrant are committed to completing this transaction as quickly as possible, subject to various conditions and events by Ybrant, including the initiation in trading in Ybrant Digital Limited shares on the Bombay Stock Exchange.
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