Infibeam Incorporation Limited Acquires DRC Systems India Pvt Limited
Ahmedabad, 3rd March 2017: Infibeam Incorporation Limited (BSE/NSE) one of the leading Global E-commerce solutions provider company today announced that it has signed MOU to acquire DRC Systems Pvt Ltd through its wholly owned subsidiary NSI Infinium Global Pvt Ltd. DRC Systems provides Cloud Enterprise ERP solutions and develops customized software for e-commerce applications. Infibeam has been engaging their services to provide customized BuildaBazaar solutions to their merchants in domestic and international market.
BuildaBazaar, a distributed market place platform of Infibeam is used by more than 66k merchants as on quarter ended December 2016. Serving regular needs of merchants in customizing e-commerce applications, DRC Systems has been serving BuildaBazaar customisation for some of the key merchants of Infibeam.
Through this acquisition, Infibeam and DRC Systems will be able to jointly serve an ever growing needs of customers in customizing their e-commerce platforms. Such needs are growing further with Infibeam’s foray into global markets under tie ups with Sears USA, Saudi Telecom for MENA region and its fully owned subsidiary in Middle East region. Infibeam has also tied up with ILF&S Infrastructure, Government of Sikkim for powering digital enterprise of Public Sector Enterprises.
Software developers are an integral part of team Infibeam. Under the acquisition of DRC Systems, the software team will grow by an additional 200 developers and technology professionals. With a combined team, Infibeam will be able to deliver an ever growing base of merchants in delivering e-commerce solutions. In Q3’17, Infibeam merchant base increased by 17,385 compared to last year Q3’ 16, which is 36 % growth.
DRC System is a profitable entity with revenue in excess of 10 crores as on Feb 28, 2017. Infibeam expects to grow the revenue and profits of DRC Systems under an integrated value added services offering.
Infibeam has recently signed an MOU to invest and merge FinTech Company, CC Avenues for offering payment aggregation and integration services to their merchants. CC Avenue is a profitable company with transaction processing volume of more than 15,000 crores and serving more than 100,000 merchants for their payment solutions to merchants.
Infibeam has significantly strengthened its value added services and further the association will open expanded business opportunities with the most extensive client offering in the industry.
Since listing Infibeam has delivered significant return to the shareholders and the acquisition is expected to create value both in near and long-term. Infibeam under its unique business model, is a profit making company. As on Q3, FY17 ended its revenue grew by 14% to Rs 1,027 Mn and EBIDTA by 348 % to Rs 212 with market capitalization of more than $ 1 billion, which has also grown by 215% since listing at $ 348 million in April 2016. Market cap as on 04.04.16 was Rs. 2366 cr and as on 01.03.17 is Rs. 7461.47 cr.
Corporate Communication Infibeam Incorporation Limited