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Reliance to acquire C-Square to augment e-com services

06
Mar '19
Reliance to acquire C-Square to augment e-com services
Reliance Industrial Investments and Holdings, a wholly-owned subsidiary of Reliance (RIL), has entered into an agreement for acquisition of C-Square, a software company, for a cash consideration not exceeding Rs 22,04,17,318. The investment will further enable the group’s digital commerce initiatives and solutions, RIL informed stock exchanges.

Incorporated on 18 July, 2002, C-Square provides software solutions for various stakeholders including C&F, distributors, retailers, online e-commerce, sales force automation, etc. Reliance will further an amount of up to Rs 60,00,00,000 and is likely to be completed by March 2021. The total investment will translate into approximately 82 per cent of equity capital in C-Square on a fully diluted basis.

C-Square has a turnover of Rs 13.5 crore, Rs 13.7 crore and Rs 9.9 crore, and net profit (loss) of Rs 41.24 lakh, Rs 88.06 lakh and Rs 83.65 lakh in FY 2018, FY 2017 and FY 2016 respectively.

In a separate filing, Reliance has announced that has entered into an agreement for acquisition of equity shares of Grab A Grub Services Private Limited (Grab) for a cash consideration not exceeding Rs 106,00,00,000. Grab is a logistics services platform company, incorporated on October 29, 2014. It provides technology enabled, asset light logistics services for various verticals.

"The total investment will translate into around 83 per cent of equity capital in Grab on a fully diluted basis. The investment will further augment the group’s digital commerce initiatives and strengthen its logistics services, catering to both B2B and B2C segments," said RIL adding that it will further invest an amount of up to Rs 40,00,00,000 and is likely to be completed by March 2021. (RR)

Fibre2Fashion News Desk – India


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