Industry bigwigs on shopping spree for internet-based companies

The past year has witnessed dynamic changes in several aspects and internet and mobile penetration has been a major phenomenon. This growth in the online space has led to major growth of internet-based companies in India, in turn, making them attractive for bigger, deep-pocketed businesses.

Several mega acquisitions have taken place in the past one year, the latest being the announcement made by Reliance Retail of acquiring a controlling stake in the home-grown online search engine platform Just Dial for Rs 3,497 crore.

Recently, Tata Sons’ subsidiary Tata Digital acquired a majority stake in Supermarket Grocery Supplies Private Ltd, the company which is better known as BigBasket.