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Info Edge (Naukri) invests Rs 20 crore to acquire 49% stake in eTechAces

Info Edge India (Naukri.com) has invested Rs 20 crore to acquire 49 per cent stake in eTechAces Marketing and Consulting, which has launched an online insurance aggregator PolicyBazaar.com .

Info Edge India (Naukri.com) has invested Rs 20 crore to acquire 49 per cent stake in eTechAces Marketing and Consulting, which has launched an online insurance aggregator PolicyBazaar.com .

Ambarish Raghuvanshi, CFO, Info Edge India, has said, “eTechAces has a great management team and a differentiated approach to distributing financial products online, by empowering the customer to enable comparison of available options and make an informed data-driven decision.”

eTechAces Marketing and Consulting is headed by a team of professionals experienced in the financial and the travel sector. The key people of eTechAces include Yashish Dahiya (CEO), Avaneesh Nirjar (COO) and Alok Bansal (CFO).

Earlier this year, Info Edge India had announced an investment of Rs 6.5 crore for a 40 per cent stake in Applect Learning Systems. The company has also invested in StudyPlaces, an e-learning company. According to Info Edge, its latest deal with eTechAces will make its total investment made till date to Rs 31 crore across StudyPlaces, Applect and eTechAces.

Info Edge India owns and manages a job portal Naukri.com, a real estate site 99acres.com, a matrimonial portal Jeevansathi.com, an offline executive search firm Quadrangle, an education portal Shiksha.com, a professional networking site Brijj.com, a career guidance site AskNaukri.com, and an online brokerage site AllCheckDeals.com.

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