Ybrant to Buy
US$283 Million (INR 1500 Crores) Business from
Hyderabad|India: Hyderabad based -Ybrant Digital,
the leading global digital marketing company announced that it has entered
into an agreement to purchase PriceGrabber, LowerMyBills, and
“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
Experian, the global information services company, announced the news
simultaneously in London on an agreement to sell PriceGrabber, its price
comparison shopping business which powers Yahoo! and MSN shopping.
LowerMyBills.com, the one-stop destination that offers savings through
relationships with more than 500 service providers across multiple
categories, including home loans, credit cards, auto and health insurance,
and long-distance and wireless services. ClassesUSA.com, is the leading
online higher-education portal with 2 million visitors and 300 accredited
college and university partners. 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 who is the President of Experian Interactive will continue
to lead the new group by joining the Ybrant Digital family. “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.”
With this significant move Ybrant will nearly double its current revenues.
“By adding these established brands to Ybrant, we will offer interesting
new products, and a world class lead generation platform.” Said Suresh
Reddy, Chairman and CEO of Ybrant Digital.
Experian Interactive is currently one of the top five internet advertisers
in the US. Ybrant is one of the leading digital advertisers in the global
markets outside of the US. This is Ybrant’s second successful foray into
acquiring premium destination sites. The company successfully acquired
Lycos.com in 2010. By acquiring these three established Internet brands
and combining forces, Ybrant becomes the leader in many key digital
marketing areas worldwide.