Ybrant buys business worth US$283 million from Experian

The Indian digital marketing agency has bought PriceGrabber, LowerMyBills and ClassesUSA.com from the global information services company.

Digital marketing company Ybrant Digital announced today that it has entered into an agreement to purchase PriceGrabber, LowerMyBills and ClassesUSA.com from global information services company Experian. The total worth of the deal is US$283 million (INR 1,500 crore).

PriceGrabber is a price comparison shopping business which powers Yahoo! and MSN Shopping. LowerMyBills.com is the one-stop destination that offers savings through relationships with more than 500 service providers across multiple categories, including home loans, credit cards, auto and health insurance, and long-distance and wireless services. ClassesUSA.com is an online higher-education portal with a claimed 2 million visitors and 300 accredited college and university partners. This will add a business of US$283 million and employee strength of over 300, at an agreed consideration of US$175 million (INR 930 crore).

Steve Krenzer, president, Experian Interactive will continue to lead the new group and join the Ybrant Digital family. Krenzer says, "I am very excited to join the Ybrant team. With Ybrant's global footprint and our leading sites, the combined group will make us the pacesetter globally."

With this move, Ybrant will nearly double its current revenues. "By adding these established brands to Ybrant, we will offer interesting new products, and a world class lead generation platform," says Suresh Reddy, chairman and CEO, Ybrant Digital.

Experian Interactive is currently one of the top five internet advertisers in the US. Ybrant is one of the leading digital advertisers in the global markets outside of the US. This is Ybrant's second successful foray into acquiring premium destination sites. The company successfully acquired Lycos.com in 2010.

The deal will be finalised once all the formalities are completed, including the initiation in trading in Ybrant Digital Limited shares on the Bombay Stock Exchange.