<p>Ybrant Digital, a city-based digital marketing solutions provider, today said it will acquire three Internet brands of US-based Experian Interactive Media (EIM), for a consideration of USD 175 million (about Rs 930 crore).<br /><br /></p>.<p>Experian Interactive is currently one of the top five Internet advertisers in the US.<br />Ybrant Digital Chairman and Managing Director Suresh Reddy said while USD 100 million will be paid in cash, the rest will be through a seller note as a short-term arrangement of two to three years.<br /><br />Ybrant will be acquiring EIM's comparison shopping engine PriceGrabber.com, that powers Yahoo! and MSN Shopping, free online service LowerMyBills.com, that allows consumers to compare rates on various `fixed cost' items such as mortgage, auto insurance and health insurance, and higher education portal ClassUSA.com for USD 175 million, Reddy said at a press conference here.<br /><br />The acquisition will add a business of USD 283 million (around Rs 1,500 crore), an employee strength of over 300, and the entire management team to Ybrant, he said.<br /><br />He said Ybrant will raise USD 100 million as loan from ICICI Bank and Credit Suisse.<br /><br />Reddy said the deal is expected to be closed after Ybrant gets listed through its merger with Hyderabad-based publicly-listed IT implementation and outsourcing services provider LGS Global Ltd, which it acquired in August 2011.<br /><br />Stating that the merged entity, Ybrant Digital Ltd, is likely to be traded shortly on the <br />Bombay and Madras Stock Exchanges, Reddy said the listed company would go in for instruments like qualified institutional placement (QIP) and foreign currency convertible bonds (FCCBs) later this year to clear the bank loans.<br /><br />This is the eighth acquisition by Ybrant in as many years.</p>
<p>Ybrant Digital, a city-based digital marketing solutions provider, today said it will acquire three Internet brands of US-based Experian Interactive Media (EIM), for a consideration of USD 175 million (about Rs 930 crore).<br /><br /></p>.<p>Experian Interactive is currently one of the top five Internet advertisers in the US.<br />Ybrant Digital Chairman and Managing Director Suresh Reddy said while USD 100 million will be paid in cash, the rest will be through a seller note as a short-term arrangement of two to three years.<br /><br />Ybrant will be acquiring EIM's comparison shopping engine PriceGrabber.com, that powers Yahoo! and MSN Shopping, free online service LowerMyBills.com, that allows consumers to compare rates on various `fixed cost' items such as mortgage, auto insurance and health insurance, and higher education portal ClassUSA.com for USD 175 million, Reddy said at a press conference here.<br /><br />The acquisition will add a business of USD 283 million (around Rs 1,500 crore), an employee strength of over 300, and the entire management team to Ybrant, he said.<br /><br />He said Ybrant will raise USD 100 million as loan from ICICI Bank and Credit Suisse.<br /><br />Reddy said the deal is expected to be closed after Ybrant gets listed through its merger with Hyderabad-based publicly-listed IT implementation and outsourcing services provider LGS Global Ltd, which it acquired in August 2011.<br /><br />Stating that the merged entity, Ybrant Digital Ltd, is likely to be traded shortly on the <br />Bombay and Madras Stock Exchanges, Reddy said the listed company would go in for instruments like qualified institutional placement (QIP) and foreign currency convertible bonds (FCCBs) later this year to clear the bank loans.<br /><br />This is the eighth acquisition by Ybrant in as many years.</p>