India’s Girnar Software now owns five portals that target different segments of online auto industry in the country
Image Credit: Sean DuBois
India-based technology company Girnar Software today announced acquiring auto portal Zigwheels.com from local conglomerate Times Internet. The amount is not disclosed.
This move will help Girnar Software establish its dominance over the online auto industry in India. The firm also owns other vehicle portals such as CarDekho.com, Gaadi.com, BikeDekho.com and TyreDekho.com, which tackle different segments of the market.
Going forward, Zigwheels.com will run as a “separate business” within the Girnar Software portfolio. It can also stand to leverage on the resources available within the greater Girnar Group, which is most well-known for its work in the real estate industry.
“Having been a part of India’s leading and most respected media group, Zigwheels.com comes with a very strong content pedigree,” said Amit Jain, Founder and CEO, Girnar Software.
He was referencing Times Internet’s ranking in India’s thriving media world with entities in almost every category, from e-commerce to sports and entertainment.
Also Read: Times Internet invests in Uber India and signs marketing partnership
With this deal in place, Times Internet has now become an investor in Girnar Software, according to an official release.
Jain continued, “This strategic acquisition reinforces our commitment to further enrich our content to enable us to engage even more deeply with our consumers. This also takes our market leadership to the next level in the digital auto vertical across visitors, dealer base and revenues.”
Screenshot of Zigwheels.com
Satyan Gajwani, CEO, Times Internet said that the group sees great potential in the “online auto industry in India and overseas”. He added, “We are excited to be partnering with an exceptional management team which has built great value and we are confident will continue to blaze trails in the years to come.”
According to The Economic Times, which wrote about the then-upcoming acquisition back in September, Zigwheels sees about eight million monthly visits.
Earlier in September 2015, Girnar Software acquired Gaadi.com, which was previously owned by the Nasper Group. This helped the firm get a stronger grip on the digital used car market in India and boost its management team.
Girnar Software generates revenue from lead generation for new and second-hand cars, media sales on the respective websites, and in-app purchases from its CarBuddy app.
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