Several mega acquisitions have taken place in the past one year, the latest being the announcement made by Reliance Retail of acquiring a controlling stake in the home-grown online search engine platform Just Dial for Rs 3,497 crore.
Further, Tata Digital and Reliance Retail have acquired majority stakes in digital health companies 1MG Technologies Private Ltd (1MG) and Vitalic Health Pvt Ltd and its subsidiaries, collectively known as Netmeds, respectively.
Both the business houses which are betting big on the e-commerce space are adding these online companies to strengthen their respective online offerings.
This larger interest in internet-based companies can be attributed to the business growth these ventures have witnessed amid the pandemic.
India’s internet economy is booming aided by a surge in smartphone penetration and declining…