Infibeam Incorporation has received an approval for the acquisition of entire share capital of Unicommerce eSolutions (Unicommerce) from its existing Shareholders i.e. Jasper Infotech (Snapdeal) (Sellers and the Proposed Transaction) for a consideration other than cash for an aggregate consideration not exceeding Rs 120.00 crore and execution of the Share Purchase Agreement (SPA) on May 7, 2018 for acquisition of entire share capital of Unicommerce eSolutions from its existing shareholders. Consequent to acquisition of the entire share capital, Unicommerce eSolutions will become the wholly owned subsidiary of Infibeam Incorporation.
The Board of Directors of the company at its meeting held on May 07, 2018, approved the same.
Infibeam Incorporation is an e-commerce company, provides a cloud-based technology platform, and e-commerce infrastructure and logistics support for various merchants, products, and services in India.
