Ahmedabad based Infibeam
Incorporation Ltd will acquire Snapdeal’s subsidiary Unicommerce, which offers
e-commerce enablement software, in a deal worth up to Rs 120 crore.
Last year, Snapdeal dumped a $950-million
takeover offer from Flipkart, with Snapdeal founders Kunal Bahl and Rohit
Bansal saying the company will pursue a fresh strategy in the Indian market. As
a part of this Snapdeal 2.0 plan, it has sold its payment services unit
Freecharge to Axis Bank for Rs385 crore, while its logistics arm—Vulcan Express—was
acquired by Kishore Biyani’s Future Supply Chain Solutions in an all-cash deal
valued at Rs35 crore.
According to Infibeam’s filing,
Unicommerce eSolutions had a net worth of Rs24.63 crore and turnover of Rs20.27
crore as on 31 March. Founded in 2012, Unicommerce offers e-commerce enablement
software for warehouse management and omni-channel services and has over 10,000
sellers, brands and online retailers as its clients.
Infibeam
operates in e-retailing (Products business) through its flagship website
infibeam.com and has Web Services business that covers software development
services, web development, maintenance through BuildBazar and access to digital
payment gateways amongst others.
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