New Delhi-based listed Network18 Group is to divest its premier local search businesses Infomedia Yellow Pages and AskMe to GETIT Infoservices Pvt. Ltd., a digital marketing company offering a platform for local search, classifieds, micro communities, deals, etc. The combined operations of GETIT will be referred to as “Getit Infomedia”. Earlier during the current financial year, Network18 had partially diluted its stake in Bookmyshow.com. It had also recently divested its entire stake in Newsire18.
From the Venture Intelligence PE Deal database: In September 2008, Helion Ventures had invested $4.32 million in Getit Infoservices.
Source: Press Release
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