[Acquisition Alert] InfoEdge Acquires DoSelect
The acquisition will further strengthen InfoEdge as a leader in the recruitment sector with a sharp focus on tech-based, end-to-end hiring solutions
Internet company InfoEdge, and parent of the recruitment portal, Naukri.com, announced it entered into an agreement to acquire 100 per cent of the share capital of Bengaluru-based DoSelect.com, at a cost of INR 21 crore.
DoSelect is a data-driven skill assessment platform for hiring and skilling, co-founded by Iliyas Shirol and Rohit Agrawal in 2015. It has received Seed funding from investors including Mumbai Angels, 3one4 Capital, Aarin Capital, and Mohit Saxena (co-founder, InMobi). The acquisition will further strengthen InfoEdge as a leader in the recruitment sector with a sharp focus on tech-based, end-to-end hiring solutions.
DoSelect uses data-driven assessment intelligence in the recruitment lifecycle and has built a strong customer base of over 150 customers across enterprises, SMEs, and startups in various sectors. The company has enabled its customers to make smart "people decisions' by deploying successful solutions in hiring, upskilling, onboarding, deployment, and employee engagement. As part of the InfoEdge ecosystem that also comprises the country's largest job seeker database, DoSelect will provide an intelligent decision engine to help organizations target relevant applications for various jobs more efficiently. The proposed acquisition would help Info Edge offer a new variety of services under its flagship brand Naukri.com helping the Company to further consolidate its position in the online recruitment solutions segment where Naukri.com already enjoys an established leadership position, the platform shared.
"The InfoEdge association gives us much-needed support, resources, and an ecosystem to achieve our aim of creating the best assessment automation software in the world. We will continue to fortify our product offering in addition to bringing in better leverage with the Infoedge ecosystem and deeper integration with their services. DoSelect will run as a business unit of Info Edge and this acquisition will only broaden our platform offerings in terms of products and solutions by joining a larger and stronger ecosystem," said Rohit Agrawal, co-founder, and chief executive officer, DoSelect.