Midday Infomedia Ltd has acquired SnatchKing Online Pvt Ltd, an online classified technology company.
As per the deal, Midday will also take several key employees of Snatchking on its board.
The acquisition is part of Mid-day's backward integration strategy to have a technology platform rather than acquiring a classified business.
Founded in 2007 by Kunal Kapur, SnatchKing is an online classified technology company for several media companies including Times Group (Mumbai Mirror), Dhainik Bhaskar and Midday.
Transaction Reference: Medianama
SnatchKing’s has a classifieds lead generation platform called “ResponseCenter” which incorporates several patent pending technologies in the realm of natural language analysis, machine learning and artificial intelligence.
SnatchKing also operates the popular classifieds portal “SnatchKing.com”. “SnatchKing.com” receives more than 1.5 lakh classifieds in categories ranging from automobiles, real Estate, and jobs to personals and books.
In May, Jagran Prakashan bought Midday Multimedia Ltd's (MML) subsidiary Midday Infomedia Ltd (both print and online business) in a share swap deal. Post deal, MML was left with the radio business through its subsidiary Radio Mid-Day West (India) Ltd.
Some of the recent M&A deals in the media space includes; England based Astro All Asia Networks bought 80% stake in Sanjeev Kapoor's Turmeric Vison Pvt Ltd; Reliance Big Entertainment bought a majority stake in IM Global; Infomedia 18 Ltd sold its publishing content services business Glyph International to Cenveo Inc; Jupiter Media bought 26% stake in Express Publications (Madurai) Ltd for Rs.250 Cr and others.
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 28/07/10 |
SnatchKing - Midday Infomedia |
M&A |
Midday Infomedia Limited |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 06/02/12 |
M&A |
Agni Property Services Private Limited |
Looking For |
- |
Planned |
| 02/02/12 |
M&A |
Persistent Systems Limited |
Location business |
- |
Completed |
| 31/01/12 |
Private Equity |
Tiger Global Management LLC |
Flipkart Online Services Private Limited |
150.00 |
Completed |
| 31/01/12 |
M&A |
Dell Inc |
Looking For |
1007.05 |
Planned |
Company |
| Name | Promoters | Office | Competitor | Website |
| Midday Infomedia Limited |
Khalid A H Ansari & Group |
Penninsula Centre,Dr S.S Road,
Opp.Mahatma Gandhi Hospital,Parle(E),
Mumbai-400012. Maharashtra, India. |
|
www.mid-day.com |
| Snatchking Online Private Limited |
Anuradha G Kapur |
29, CCI Chambers CHS Ltd, Opp. CCI Club Center, Wing 210/211, Dinshaw Vachha Road, Mumbai-400021. Maharashtra, India. |
|
www.snatchking.com |
