Zwayam Digital is engaged in the business of providing SaaS based sourcing and screening recruitment solutions and providing end-to-end recruitment solutions with configurable plug and play modules. The company reported 46.82% YoY jump in turnover to Rs 6.46 crore for the financial year 2020-21.

The proposed acquisition would help Info Edge to further consolidate its position in the online recruitment solutions segment where its flagship brand Naukri.com already has an established leadership position.

The company expects to complete the transaction on or before 30 June 2021.

Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.

On a consolidated basis, Info Edge (India) reported a net profit of Rs 679.04 crore in Q3 December 2020 as compared to a net loss of Rs 62.12 crore in Q3 December 2019. Net sales declined 17.1% YoY to Rs 277.64 crore during the quarter.

The scrip slipped 0.62% to currently trade at Rs 4656.90 on the BSE.