Times Internet Acquires 50% Stake In A1Books.co.in
Times Internet Limited (Indiatimes.com), a part of the Times Group, has acquired a 50% stake in Webnotions Books India, which owns an online book marketplace A1Books.co.in. Owned by Shinu Gupta, the US-based Webnotions was founded in 1995, and entered India in December 2007.
As part of this investment, the Times Group will create value for A1Books by providing brand support to expand its growing market. On its part, A1Books shall make available over a million book titles on TIL’s Indiatimes.com and will in turn capitalize on the latter’s user base in India. Exact details of the deal are awaited. [Via]
Considering that Books, Clothing and CD/DVDs are the largest selling non-travel products online, it may not be such a bad idea.
Filed under: Deal Tracker
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