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Just Dial surges almost 20% on Google acquisition buzz
10 November 2017, 08:53 | Justin Tyler
Leon Neal AFP
Buying Just Dial will give Google, owned by Alphabet Inc, a database of 20 million pan-Indian listings, the report said.
Global internet giant Google is in talks with domestic hyper-local search engine Just Dial to buy the latter's business, Business Standard reported.
Interestingly, in a post-earnings call on 31 October, an analyst had asked Just Dial about market speculations regarding its takeover by Google. The introduction of Google Aero, an aggregator.
Just Dial had reported of being in talks with Google for a collaboration to enhance user experience.
The Stoke Exchange said, "With respect to the recent news item captioned "Google, Just Dial in deal talks". Both the companies have entered into an exclusive talk about two months back, the report said citing the banker. "It may take some more time before the discussions are finalised".
The company, founded by VSS Mani, put out a statement, "As mentioned during our previous media, investor and analyst interactions, Just Dial, as part of its regular business, does meet various relevant corporates for exploring any business / strategic opportunities and tie-ups. In case there are any developments to disclose, we shall do it at an appropriate time".
E-mail queries to both companies were not immediately answered.
Recently, Just Dial reported about 26.5 percent rise in standalone net profit at Rs 37.5 crore for the September quarter. Its revenue from operations during the quarter under review stood at Rs 194.4 crore as against Rs 180.3 crore in the year-ago period, up 7.9 per cent.
It had 10,892 employees at the end of September, 2017 quarter.
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