Bangalore-based Sapna Book House’s e-commerce arm SapnaOnline has acquired Ishita Technologies and its e-commerce platforms Bookadda, Acadzone & Koolskool for over $13 million, reports The Times of India.
This acquisition will allow SapnaOnline to reach out to a wider customer base, to further establish itself in the e-learning space, and enter the direct school supplies vertical. All three brands & the app Bookshelf, which allows customers buy and sell second-hand books online, will continue to function independently.
The report mentions that Bookadda has 2 million active online customers and its catalogue has 12.5 million titles, mostly fiction & non-fiction trade books. It has a strong presence in the north & east India, which would enable SapnaOnline to enter new markets. Acadzone sells books for higher education, competitive exams, jobs & career oriented books, and study materials for online certification courses. While Koolskool currently supplies textbooks, educational materials and stationery products to 10 schools, which SapnaOnline plans to expand through its network of over 10,000 schools.
Founded by Hemant Kohli, Arjun Kumar & Mahipal Reddy in 2010, Ishita Technologies had raised an undisclosed amount of funding from former Infosys director TV Mohandas Pai and Ranjan Pai founded Aarin Capital Partners and early stage investor Zodius Capital in 2012. Following this acquisition, all investors have exited the venture. Ishita Technologies had launched Acadzone in October 2012 & acquired Koolskool in March this year.