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India – Info Edge boosts recruitment business with acquisition

01 March 2013

Info Edge India Ltd (NAUKRI:NSI), the company behind major Indian job site Naukri.com, has acquired MakeSense Technologies Private limited for USD 1.5 million (INR 80 million), the internet firm announced on Friday.

“The company has acquired MakeSense Technologies Private limited for about Rs. 80 million,” Info Edge said in a filing to the Bombay stock exchange.

“MakeSense Technologies has developed proprietary software for semantic search which will augment search capabilities for both recruiters & job seekers, principally on www.naukri.com.”

Staff at MakeSense will join InfoEdge with the acquisition which, InfoEdge CEO Hitesh Oberoi said, “will significantly benefit InfoEdge and specially Naukri as the technological expertise and experience of the MakeSense team will help us introduce new features for our recruitment business.”

The company’s share price rose +2% today to INR 354.95, following today’s announcement. Based on its stock price, Info Edge has a market value of USD 701.6 million (INR 38.03 billion). 

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