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Infibeam acquires Snapdeal's subsidiary Unicommerce
15
May '18
Ahmedabad based e-commerce company Infibeam has acquired Unicommerce, a cloud based inventory management company, wholly owned by Snapdeal, for ₹120 crore. The two companies have signed a non-cash deal and Infibeam will be issuing optional convertible debentures (OCD) to Jasper Infotech, which owns Snapdeal, to cover the value of Unicommerce.

The line of business of Unicommerce is similar to Infibeam. The acquisition would result in growth in merchants and revenues from Infibeam Web Services. With the acquisition of Unicommerce eSolutions, Infibeam will further expand and strengthen its e-commerce web service offerings and capabilities, said Infibeam in a BSE filing.

The acquisition is likely to be completed within 3-5 months.

After closing the Transaction, Infibeam will hold entire 100 per cent share capital of Unicommerce and will have all the rights to control its board constitution, share capital, business and other operations.

Unicommerce is a market leader in e-commerce enablement software for warehouse management and omnichannel services. It is one of the few profitable companies in India in the SaaS market providing comprehensive end-to-end e-commerce solutions, including warehouse management, multi-channel order fulfilment, e-commerce order processing, catalogue management, inventory management, and omni-channel management for both brands and online sellers. It serves the needs of manufacturers, wholesalers, distributors, retail chains, and individual store owners. (KD)

Fibre2Fashion News Desk – India


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