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Google reported in talks to acquire Mumbai-based Just Dial

Google reported in talks to acquire Mumbai-based Just Dial

Just Dial was founded in 1996 by VSS Mani in Mumbai and provides search services through its app, website and mobile.

Global internet giant Google is in talks with domestic hyper-local search engine Just Dial to buy the latter's business, Business Standard reported.

"With respect to recent news item captioned "Google, Just Dial in deal talks". However, it might require a while to finalize the deal. Just Dial Company is now trading at Rs 526.15, up by 14.63 % from its previous closing of Rs 459 on the BSE. In a clarification, the company later said, "As mentioned during our previous media, investor and analyst interactions, Justdial, as part of its regular business, does meet various relevant corporates for exploring any business/strategic opportunities and tie-ups".

On November 6, 2017, Just Dial reported about 26.5 per cent rise in standalone net profit at Rs 37.5 crore for the September quarter.

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Shares of local search engine Just Dial today surged almost 20% to Rs 549.85 during morning trade on Friday.

Google's eyes seem to be firmly on India as just a few months ago, it acquired Halli Labs, a Bangalore-based artificial intelligence firm.

A Google spokesperson told VCCircle in an emailed response that the company didn't comment on rumours. It had posted a net profit of Rs29.6 crore in the corresponding quarter a year ago. The company had reported total operating revenue of Rs. 194.5 crore for Q2FY18, a growth of 7.9 per cent YoY and 2.3 per cent QoQ.