Delhi-based stock market consultancy firm Sharetipsinfo has acquired real estate portal Propertymesh.com in an all-cash deal. While the amount of the deal is not known, the acquisition is in line with Sharetipsinfo's strategy to expand into the real estate sector. Post acquisition, Sharetipsinfo aims to provide real estate investment tips, in addition to its other offerings.
“The acquisition will boost our revenue multiple folds. With Propertymesh, we will help real estate investors invest in the right project,†said Rishi Sakhuja, founder, Sharetipsinfo.
Sharetipsinfo was founded by Sakhuja in 2005 and currently provides Indian stock market and commodity trading tips. Talking to Techcircle.in, he shared that the company will now set up a research team for real estate sector. He said it will be hiring senior management people for Propertymesh. The founder of Propertymesh.com, Sushil Thakur, will be providing consultancy for one year post acquisition, after which he may or may not exit.
Sakhuja said the firm is looking to enter the online digital media sector for which it may look at acquisitions. “Our next step is to enter the digital media sector and for that again we would look at inorganic expansion. We might look at search engine optimisation or online marketing to start with,†he said.
(Edited by Joby Puthuparampil Johnson)