By TIOLCORPLAWS News Service

MUMBAI, MAY 9, 2018: The Infibeam Incorporation Ltd has said that its board has approved the acquisition of Unicommerce eSolutions Pvt. Ltd, owned by Jasper Infotech Pvt. Ltd, which runs online marketplace 'Snapdeal.com', for Rs 120 crores. Snapdeal acquired Unicommerce eSolutions in March 2015. Incorporated in February 2012, Unicommerce is an e-commerce management software provider for warehouse management and omni-channel services.

In a stock exchange filing, Infibeam said that the acquisition would result in growth in merchants and revenues from Infibeam Web Services. With the acquisition of Unicommerce eSolutions, Infibeam would further expand and strengthen its e-commerce web service offerings and capabilities. Unicommerce reported a revenue of Rs 20.27 crores in the FY ending March 31, the statement said.

The deal is expected to be completed in 3-5 months subject to requisite approvals. Infibeam is engaged in providing software development services, maintenance, web development, e-commerce and other ancillary services. The company went public in March 2016.