| Ybrant acquires Israeli firm for $13mn |
| BS Reporter / Hyderabad December 04, 2007 |
| Hyderabad-based e-marketing solutions company, Ybrant Technologies, is acquiring Israeli online media solutions company, Oridian, for $13 million (approximately Rs 52 crore). A definitive agreement has been signed in this regard, which is yet to get final approval from Oridian's shareholders. While $1 million has been paid to a trust account of Oridian, $2.5 million is to be paid at the time of closing the deal in a week. Around $6 million will be released in 90 days from the date of closing and the remaining in nine months from then, M Suresh Reddy, CMD, Ybrant, said here today. Oridian, a privately-held company based in Israel |
