Yahoo Buys 30% in Indian Directory Services Firm

December 19th, 2008 at 12:00 am
 


yahoo call ezee inmac

Yahoo has announced that it has acquired a 30% share of an Indian tele information company called Info Network Management Company or INMAC. INMAC runs a local service "Call Ezee" which provides directory search and services 14 Indian cities.  The amount of the acquisition has not been disclosed but Yahoo does get a seat on the board of INMAC.

"The funding raised will be used to increase coverage of Call Ezee, make technology improvements as well as build a world class team. We aim to gain market share by reaching out to untapped markets and advertisers in India", said T S Narayanaswamy, Founder and CEO, INMAC. 

For Yahoo, the acquisition of the stake will be used for their expansion into India, one of the world’s largest internet markets.

"The Indian local search market is seeing significant changes as more and more consumers are using mobile phones to search for and find local business. The investment also re-affirms our commitment to the Indian market", said Keith Nilsson, SVP and Head, Emerging Markets, Yahoo Inc. 

Of course, the partnership will benefit both companies, INMAC will get more funding and resources while Yahoo gets a chunk of the Indian market. Moreover, the directory search will also complement Yahoo’s web products in India while enabling them to play with INMAC’s voice service which they could use elsewhere when the time comes.