Info Edge to acquire Highorbit Careers for Rs 81 cr

Info Edge (India) Ltd, which owns online job portal Naukri, Tuesday said it will acquire Highorbit Careers - that operates job portals iimjobs.com and hirist.com - for cash consideration of Rs 80.82 crore.

"The company has agreed to acquire 100 per cent share capital on a fully diluted basis. Post the completion of the acquisition, iimjobs will become wholly-owned subsidiary of the company," Info Edge said in a BSE filing.

The combination of iimjobs' strong brand proposition and Info Edge's strong distribution network, enables Info Edge to better serve its recruiter clients and jobseekers by tailoring its services to meet their requirements, it added.

Commenting on the acquisition Hitesh Oberoi, Co-Promoter, MD and CEO, Info Edge said, "iimjobs has managed to carve a niche for itself and has built a great brand in the premium jobseeker community".

"Its value proposition strongly complements, Naukri's proposition to its customers. Given our massive customer base in Naukri, together ...