Google, Just Dial in deal talks

Google, Just Dial in deal talks

Alphabet Inc flagship Google is reported to be in talks to acquire Mumbai-based search engine firm Just Dial.

Shares of local search engine Justdial today zoomed 9 per cent amid reports of deal talks with Google, which the company later denied. The testimony cites an investment banker said to be proverbial for some time."Google has been talking to Just Dial for an acquisition for some time". However, it might require a while to finalize the deal. The price of shares decreased.

Google launched a food deliver and services app called Areo in India earlier this year.

"It may take some more time before the discussions are finalised", the banker has been quoted as saying in the report.

The company recently announced its financial and operating results for the fiscal quarter ending on September 30, 2017, according to which it saw a net profit of $5.7 Mn (INR 37.5 Cr), claiming a 26.5% Y-o-Y rise for Q2 FY 18.

Just Dial was trading 13.86 per cent up at Rs 522 around 9.35 am (IST) on BSE.

The company's revenue from operations stood at Rs194.4 crore in Q2FY18 as against Rs180.3 crore in the year-ago period, up 7.9 per cent. Google has expanded its offers in India to include business listings with Google Maps, too.

Justdial was founded by VSS Mani in 1994. Furthermore, it would have infused some much-needed funds into JustDial, which would have in turn helped the company stay afloat amidst increased competition and declining profits. The firm started offering local searches in 1996 and is now the leading local search engine in India, with services offered on a variety of platforms - Internet, mobile, voice calls and SMSes.

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