JustDial denies acquisition talks with Google

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The Indian based company Justdial, established by V.S.S. Mani Just Dial's Mumbai branch is reported to be in attainment by Google.

Just Dial, the local classifieds company, said it "does meet relevant corporates for exploring any business or strategic opportunities and tie-ups", but there is no proposal to be acquired by Google "as of now". But JustDial stock manages to close at 9 % or 41.30 points higher (than previous day) on BSE (Bombay Stock Exchange).

"Google has been talking to Just Dial for an acquisition for some time". The intra-day gains settled at 9% reaching a share price of $7.6 (INR 500.30).

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At 10:16 hours Friday, the stock of Just Dial was trading at Rs. 526.50 per share, up by 14.71 per cent. According to the report, sources with knowledge of the deal told Business Standard that the two companies have entered into exclusive talks about two months ago.

"It may take some more time before the discussions are finalised", the banker has been quoted as saying in the report.

Just Dial is engaged in providing search services in India.

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The company's revenue from operations stood at Rs194.4 crore in Q2FY18 as against Rs180.3 crore in the year-ago period, up 7.9 per cent.

An acquisition of Just Dial will help Google get a huge database of small businesses in India that can be incorporated into its Maps app. Furthermore, it would have infused some much-needed funds into JustDial, which would have in turn helped the company stay afloat amidst increased competition and declining profits. The company started offering local search services in 1996 under the Justdial brand and is now the leading local search engine in India.

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