Industry

SapnaOnline buys Ishita Technologies

SapnaOnline.com, the online arm of city-headquartered Sapna Book House, on Wednesday, said it acquired Ishita Technologies and its three brands - Bookadda.com, Acadzone.com and Koolskool.com - in an all cash deal.

However, the size of the transaction was not disclosed by the company.

Ishita Technologies was co-founded by serial entrepreneur Hemant Kohli, and has raised Series A funding from Zodius and Aarin Capital.

Going forward, the three brands will be operational in the same name.

SapnaOnline, founded in 2012, has revenue of around $1.5 million, and has a strong presence in the southern market. “We have a strong presence in the southern market, and want to increase our presence in the northern region. With the acquisition, we will be able to cater to the growing book demand in the northern region,” said Sapna Infoway founder and CEO Nijesh Shah.Ishita was valued at $13 million at the time of Series A funding round in 2012. As part of the deal, two warehouses in Delhi and Bengaluru, operated by Ishita, will become part of Sapna. At present, SapnaOnline operates around 11 warehouses in the South.

Acadzone provides digital test-preparation materials. Koolskool uses multi-channel retailing, and sells books to schools and institutions.


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Printable version | Jan 19, 2022 11:28:38 PM | https://www.thehindu.com/business/Industry/sapnaonline-buys-ishita-technologies/article6658808.ece

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