Ybrant acquires Israeli firm Oridian for $13 m
Digital marketing services company Ybrant Technologies Ltd has announced the acquisition of Oridian, the Israeli online media solutions provider, for $13 million in an all cash deal.
The Hyderabad-based company has paid upfront an advance of $1 million and has worked out a schedule, which would see it completing the deal in a couple of months, said its Chairman, Mr Suresh Reddy.
The Israeli company recorded a turnover of $20 million in 2006 and has about 60 shareholders, of whom about three are venture capitalists.
Source:
