iData Insights acquires leading US based web portal

GEISMAR, La. - May 10, 2016 - PRLog -- In a morning update this morning, iData Insights revealed that it has acquired globalresearchreports.com (http://www.globalresearchreports.com/), the market-leading player in book reseller industry in US.

The transaction will see iData Insights acquire 100 per cent of the US and South American business of Global Research Reports, and provides an opportunity for iData Insights to enter into a joint venture arrangement with its founders with respect to international expansion.

The purchase consideration, to be funded from cash reserves, is $2.5 million plus potential earn-out payments over the next two years, which are dependent on the financial performance of Global Research Reports.

Completion is expected in the coming weeks once certain conditions precedent are satisfied.

According to the update, Global Research Reports was established in 2014 and is US's biggest book reseller website. The site receives an average of 2.6 million visits and over 9 million book searches monthly.

"We know there is enormous growth in the reselling community. The reselling segment is one of the fastest growing segments in the US market with traffic across the sector growing at over 50 per cent year-on-year," iData Insights Vice President Ms Margrett Thumpi said.

"This acquisition allows us to play a more active role in helping consumers, regardless of what phase of the project management they are in, to find a report. Growth in the segment includes reentry strategy, Market Penetration, business intelligence" Ms Thumpi said.

Global Research Reports co-founders Mohit Nigam and Paramjeet Sinha said the acquisition by iData Insights is an exciting and natural progression for Globalresearchreports subscribers.

"Integration with traditional sectors will not only enable us to provide an enhanced experience to our current audience but also to new and expanding business," they said.

Mr Mohit Nigam will continue in his role as CEO of Global Research Reports following the transaction.