Japan's Zenrin May Buy 24% In GIS Firm MapMyIndia For $30 Mn
Japanese map publisher Zenrin Co Ltd may acquire 24% stake for $30 Mn in CE Info Systems Pvt Ltd, which runs MapMyIndia.com, an online map service. The deal will value MapMyIndia at $125 Mn.
If the deal materialises, MapMyIndia may use the funds to expand operations and launch new products. The deal may also offer a partial exit to some of the existing PE investors.
Transaction Reference: Economic Times
Founded in 1992 by Rakesh and Rashmi Verma, New Delhi-based MapMyIndia provides services and solutions based on geographic information systems (GIS) and location-based business intelligence. It provides its services through handheld devices, mobile phones and automobiles.
It covers major cities and 6 lakh villages across the country.
In 2007, MapmyIndia raised its first funding from Sherpalo, the VC fund of Ram Shriram, and Kleiner Perkins Caufield Byers. In the same year, it raised $2.5 Mn from Nexus India Capital and in 2009 raised $9 Mn from Qualcomm Ventures, the venture capital arm of wireless technologies and data solutions firm Qualcomm Inc.
Founded in 1948, Zerin makes residential maps and software used in personal computers and Automotive navigation systems.
Recently, Bangalore-based Vidteq India Pvt Ltd raised funding from Karnataka Information Technology Venture Capital Fund (KITVEN). Vidteq provides video directions based on its patented VideoMap technology. It provides VideoMap-based navigation, location and search solutions.
Some GIS firms in India include Telenity, Google Maps and Satnav Technologies.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 21/07/11 | CE Info Systems (MapMyIndia.com) - Zenrin Co Ltd | M&A | Zenrin Co Ltd | 30.00 |
| 15/02/09 | CE Info - Kleiner Perkins Caufield Round 2 | Venture capital | Kleiner Perkins Caufield & Byers (KPCB) | 9.00 |
| 08/08/07 | CE Info - Nexus India Capital | Venture capital | Nexus India Capital I | 2.50 |
| 01/04/07 | CE Info - Kleiner Perkins Caufield Round 1 | Venture capital | Kleiner Perkins Caufield & Byers (KPCB) | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 21/05/12 | M&A | Bright Lifecare Private Limited | Madeinhealth.com | - | Completed |
| 21/05/12 | Venture Capital | Blume Ventures | Serendipity Infolabs Private Limited | - | Completed |
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| 17/05/12 | M&A | Trivone Digital Services Private Limited | WheelsUnplugged.com | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| CE Info Systems Private Limited | Rakesh Verma Rashmi Verma |
68, Okhla Industrial Estate, Phase 3 | www.mapmyindia.com | |
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