MUMBAI: TV18 Group is acquiring businesses of the Mumbai-based Agri Informatics India Pvt Ltd. in a bid to make a foray into the commodities information market.
Agri Informatics operates in commodity information service under the name www.eagritrader.com. The website provides news, information and prices of agricultural products on a worldwide basis. In the near future Agri Informatics India also plans to expand to other non-agricultural commodities.
For the proposed acquisition of 80 per cent stake in the business, TV18 would pay deferred cash consideration. The deal price is in the range of forward revenue multiple of one.
