Hotline: 1800 102 2007
X
Search Business Opportunities
May, 22 2018

Infibeam buys UAE-based digital payments firm Vavian International

The deal will see Dubai-based Vavian International Ltd will become a direct subsidiary of Infibeam Global EMEA FZ-LLC, a subsidiary of Infibeam Incorporation Ltd.

Ahmedabad-based Infibeam Incorporation Ltd, the parent of the country’s only listed e-commerce company has entirely acquired stake in Vavian International, a digital payments processing company which has operations in the Middle East.

The deal was valued at around AED 4.32 million (Rs 8 crore or $1.17 million).

Infibeam said in a statement that the acquisition will be completed in the next two to four weeks.

The deal will see Dubai-based Vavian International Ltd will become a direct subsidiary of Infibeam Global EMEA FZ-LLC, a subsidiary of Infibeam Incorporation Ltd.

Vavian claims to process 2,500 transactions daily with a transaction value of AED 2 million and monthly gross income of AED 0.6 million.

According to Infibeam’s statement, the acquisition is expected to “have multi-fold opportunities including higher transaction processing volume to grow its online digital payments, prospect for new business as well as other related businesses and value addition opportunities with access to fast growing Middle East market.”

The deal marks Infibeam’s second acquisition this month. Earlier, it had announced the acquisition of Unicommerce, the technology solutions arm of fellow e-tailer Snapdeal.

Infibeam had acquired Indian payments solutions platform CCAvenue last year for around Rs 2,000 crore.

Apart from horizontal e-commerce platform Infibeam, Infibeam Incorporation is also the parent of e-commerce enabler BuildaBazaar.

Founded in 2010 by former Amazon executive Vishal Mehta, Infibeam was one of the youngest companies to list on the National Stock Exchange when it floated its initial public offering in March 2016.

In February, billionaire Mukesh Ambani-controlled TV18 Broadcast Ltd announced that it would invest up to Rs 40 crore ($6.23 million) in Infibeam. The transaction appeared to be an ad-for-equity-style investment.

Infibeam posted a net profit of Rs 30.8 crore on a consolidated total income of Rs 214.94 crore for the quarter ended December 2017.

Comment
Related opportunities
  • Ice creams & Yogurt Parlors
    About Us: FRIENDLY OPPORTUNITY FOR ENTREPRENEURS Low Cost of Capital Minimum Operational Expenses..
    Locations looking for expansion Maharashtra
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 25
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • Quick Service Restaurants
    About : Waffle House bring a standardized international food in the..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • About Us: Mandalas Impresa - A vision of understanding the culinary..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Car wash / Ceramic Coating / Detailing
    About us: Manmachine group is a 32 yrs old company, pioneer..
    Locations looking for expansion Uttar Pardesh
    Establishment year 1987
    Franchising Launch Date 2016
    Investment size Rs. 30lac - 50lac
    Space required 1500 - 2000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Noida City Uttar Pardesh
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities