Just Dial surges almost 20% on Google acquisition buzz

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The statement came in response to a report in the Business Standard daily that said Google has started talks with Just Dial to acquire its business.

Shares of Just Dial soared to day's high of Rs 551.25 on Friday, registering an over 20 per cent rise from its closing price of Rs 459 yesterday after a media report said the local service search provider was in talks with search giant Google for possible sale of business. JustDial said, "We would like to clarify that as of now there is no proposal in respect of the acquisition of the business of Just Dial by Google and news published in Business Standard dated 10 November, 2017 is factually incorrect". However, it might require a while to finalize the deal.

Just Dial share price was off day's high in afternoon after its clarification.

Google's eyes seem to be firmly on India as just a few months ago, it acquired Halli Labs, a Bangalore-based artificial intelligence firm.

The company used to be the unquestioned leader in the days when people used to dial a number to find the nearest saree shop or TV technician.

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Just Dial too has tried to transition to the online medium with its website and an app.

Google, on its part, has been trying to use its dominance in search and navigation to get a big chunk of the online classifieds market. Around 188 crore businesses were listed on its portal as on Q1FY18.

Google has expanded its services in India by including business listings on Google Map and launch of Google Tez mobile payment app.

JustDial was founded in 1994 by VSS Mani.