BENGALURU: Info Edge India Ltd, which operates recruitment portal Naukri.com, has entered into an agreement to acquire 100% of the share capital of Zwayam Digital Pvt Ltd., the firm said on Saturday.
Bengaluru-based Zwayam Digital Pvt Ltd operates Zwayam, artificial intelligence and machine learning-powered recruitment management software platform, which helps enterprises streamline and automate the entire recruitment workflow from sourcing to onboarding.
“We are very much excited and look forward to the next phase of our journey with Info Edge. Info Edge will provide us with the necessary expertise and resources we need to support our customers better. Together we would be able to serve 100% of our customer needs”, said Joseph John, chief executive officer, Zwayam.
Six-year-old Zwayam has powered digital transformation of recruitment process of many enterprises and will continue to do so as a part of Info Edge.
It will maintain its independent identity and continue serving its customers.
While Zwayam will leverage the InfoEdge experience, ecosystem and resources and invest more in the business to serve both existing and future customers even better.
“Zwayam has built a great recruitment automation product which serves the needs of the enterprise customers well. This acquisition will supplement and complement Info Edge’s current recruitment offerings and help it cement its position as a leader in the enterprise recruitment solutions market”, said Hitesh Oberoi, co-promoter, and managing director of Info Edge.
Info Edge currently operates job site Naukri; matrimonial portal, Jeevansathi; real-estate platform, 99acres; and education portal, Shiksha.
The company also owns offline executive search business, Quadrangle, and Naukri Gulf, its job portal focussed on the Middle East market.
Over the years, Info Edge has also made strategic investments in food aggregator Zomato, and Policybazaar, which are expected to go public in the coming months.
At present, Info Edge employs close to 4500 people and operates in 47 cities in India, with operations in overseas markets of Dubai, Riyadh, Abu Dhabi and Bahrain in the Middle East.
Never miss a story! Stay connected and informed with Mint.
our App Now!!