Ybrant Digital has agreed to pick up a minority stake in the Israeli online recruitment company Jobookit through its Israeli subsidiary Ybrant Digital Israel for an undisclosed amount, the company has informed BSE (pdf).
In addition to this, the company has also inked an agreement to exclusively represent Jobookit and its affiliate websites as an online advertiser for the next 30 months. Ybrant Digital will also have a right to extend this representation for two additional years based on performance. The financial terms of the deal were not disclosed.
It’s worth noting that Ybrant had previously mentioned that it had signed a letter of Intent to evaluate an investment opportunity in Jobookit and also sign a media representation agreement with the company. The company was reportedly looking to invest Rs 6.17 crore (NIS 3.5 million) in Joobokit at a valuation of Rs 140.4 crore (NIS 80 million).
Founded in 2008, Jobookit develops technologies for online recruitment. It currently offers a resume uploading service called ExactMe and a resume filtering system which can assess, ranks and match resumes for recruiters called Pop CV. It also had a web-based recruitment application called SkilliQ although we noticed that the SkilliQ website is currently throwing a 404 error, hence we are not quite sure if the company has shut this product.
Ybrant Digital’s acquisitions in Israel
This is possibly the third investment by Ybrant Digital in Israel. It had previously acquired a minority stake in the Israel based Web 3.0, back in June 2011. It had also acquired the Israeli ad firm Oridian for $13.5 million in December 2007, which was later integrated to Ybrant Digital in May 2008.