Ybrant, an India-based digital marketing company, has agreed to acquire a minority stake in Israel-based online recruitment company Jobookit Technologies for an undisclosed sum, according to VC Circle.
Although the investment amount has not been disclosed, it is reported that Jobookit has a market cap of just over $9m, which means Ybrant will invest less than $5m if its stake is acquired from an existing shareholder. Jobookit had raised $4m in funding as of May 2011, according to Israeli business newspaper Globes.
The deal also includes an agreement for Ybrant subsidiary Ybrant Digital Israel to exclusively represent Jobookit and its affiliate websites as an online advertiser for the next 30 months. Ybrant Digital will hold the right to extend the deal for an additional two years depending on performance.
Jacob Nizri, president of Ybrant Digital said: “Ybrant has unparalleled expertise in realising the benefits of digital technology platforms in a multi-brand, multi-channel and multi-territory environment, helping to transform its enterprise clients by offering a wide range of options to reach their consumers. As a leading destination for users of varied interests globally, Jobookit is an important strategic addition to Ybrant.”