acquisition

GirnarSoft, the parent company of CarDekho, Gaadi and Zigwheels, has acqui-hired Valueserve, a company providing e-governance solutions, consulting and management support services for Public Sector Units (PSUs). With this acquisition, GrinarSoft will form a dedicated team to service public sector clients, the company said in a statement.

Launched in November 2010, Valueserve provides tech and infrastructure support to e-governance initiatives and projects undertaken by to PSUs and claims to have partnered with consulting firms such as Grant Thornton, Ernst & Young, KPMG and Deloitte. The acquisition of Valueserve comes after Grniarsoft had earlier signed 3 MOUs with the Rajasthan government for developing a CSR Portal for the state, and an online portal for the Ministry of Micro Small and Medium Enterprises of Rajasthan.

Previous acquisitions: Valueserve is GirnarSoft’s ninth deal in the last two years. Earlier in May, the company had acquired Volob Technologies, a virtual reality startup, in an all cash deal. In April, GirnarSoft acquired roadside assistance company Help On Wheels in an all cash deal to boost its roadside assistance vertical. In September 2015, CarDekho acquired Times Internet* owned auto portal Zigwheels for an undisclosed amount. In the same month in 2014, it acquired Gaadi. In April 2015, the company acquired price comparison website BuyingIQ for the team and their technology.

In April, GirnarSoft also made a strategic investment in the car testing and benchmarking firm Advanced Structures India (ASI). With this investment, ASI would provide the technical backend for reviewing cars listed on CarDekho.

New auto portals: In January, GirnarSoft said that it planned to launch multiple automobile verticals including ones for batteries, light commercial vehicles, insurance and hyperlocal roadside assistance services in the next few months.

GirnarSoft funding: In March, GirnarSoft raised an undisclosed amount of funding from Google Capital and participation from existing investors. The company had said then that it would use the funds for technology, R&D and expansion within and outside India.

Layoffs: Last month, GirnarSoft laid off 60 people in the company in a round of restructuring. At the time, GirnarSoft added that it would be increasing its staff size to 3,500 by the first quarter of 2016-17.

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