Mumbai-based ASAPP Media Information Group, a B2B media & information group, has acquired 100 per cent stake in Chennai-based IPF Online Ltd. The deal involves acquisition of stake held by IPF Online's founder and publisher RV Pandit besides equity investors IL&FS Group and HDFC. The deal involves acquisition of entire print and online business of IPF Online.
IPF Online (also called Industrial Products Finder) was set up as a new industrial products monthly journal in 1972. Its website - www.ipfonline.com - hosts over 75,000 industrial products besides carrying advertisements and profiles of industrial-use products.
IPF Online is also the owner of textile and an automobile products magazines besides their online properties - www.indiantextilejournal.com and www.automotiveproductsfinder.com. IPF Online also offers web enabled listings and product advertisements besides B2B product transactions.
ASAPP Media has media properties in print, online and events space. Its bouquet of publications brands include Construction World, Infrastructure Today, Power Today, Equipment India, CW Interiors, Indian Cement Review and Projects Info. The company also has a database and research spanning projects across all industries in India. ASAPP Media has also promoted FIRST – Foundation of Infrastructure Research Studies Training – a not-for-profit, social trust.
“We feel this acquisition goes in line with our core focus of providing researched, intelligent information solutions across all major sectors like construction, infrastructure, realty and now industrial products which spans multi sectors,†said Pratap Padode, managing director of ASAPP Media.
Indus Advisors acted as the financial advisor to the shareholders of IPF Online while BDO India LLP acted as the financial advisor to ASAPP Media.
(Edited by Joby Puthuparampil Johnson)