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Naspers, a multinational media group based in South Africa holding nearly 40% stake in China’s internet firm,Tencent, is reportedly in talks to acquire RedBus.in, online bus ticketing service for nearly US $100,000,000.
Naspers has operations in Africa, China, Latin America, Central and Eastern Europe, Russia and India and investments India’s Flipkart, Goibibo, Payaupaisa, Payu.in, Tradus and ibibo ads.
RedBus was founded in 2006 and at the moment has a gross annual sale of $200 million with a market share of 65 percent with its 1000 operators and more than 10,000 bus routes according to India’s Economic Times.
The Pilani soft labs firm has Helion Venture partners, Seedfund and Inventus capital as its investors.
The acquisition is expected to help RedBus overcome its competition from firms like SimplyBus, Mantis (Travelyaari) and AbhiBus even though most of this firms have no convenience RedBus offers.
