The parent company of Naukri.com and Jeevansathi.com - Info Edge - said it will acquire 100 per cent of the share capital of HR Software-as-a-service (SaaS) startup Zwayam Digital for around Rs 61 crore.

The all-cash deal is expected to close on or before June 30, 2021, as per regulatory filing of the consumer internet major.

Post-acquisition, the Bengaluru-based startup will become a wholly-owned subsidiary of Info Edge.

Info Edge said the proposed acquisition will help the company to further consolidate its position in the online recruitment solutions segment where its flagship brand Naukri.com is a market leader.

Zwayam has powered the digital transformation of the recruitment process of many enterprises and will continue to do so as a part of Info Edge.

Hitesh Oberoi, co-promoter, MD and CEO, Info Edge, in a statement, said, “This acquisition will supplement and complement Info Edge’s current recruitment offerings and help it cement its position as a leader in the enterprise recruitment solutions market.” Info Edge has also been a major investor in startups like Zomato and PolicyBazaar.

Founded in 2015 by Joseph John, Nicel KM, Divya T and Shreyas Tonse, Zwayam Digital is an AI and ML powered recruitment management SaaS platform, which helps enterprises streamline and automate the end-to-end recruitment workflow from sourcing, on-boarding to other recruitment solutions with configurable plug and play modules.

“Info Edge will provide us with the necessary expertise and resources we needed to support our customers better,” Joseph John, CEO, Zwayam said.

Zwayam Digital’s annual turnover in FY21 stood at Rs. 6.46 crore. It clocked a turnover of Rs 4.40 crore in FY20 and Rs 2.27 crore in FY19 respectively.

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