Tuesday, May 8, 2018

Infibeam Acquires eSolutions Company “Unicommerce” from Snapdeal

Unicommerce to Strengthen Infibeam’s Web Services Capabilities and Propel Merchant and Revenue Growth

Infibeam Incorporation Limited (BSE 539807/NSE INFIBEAM), India’s leading
e-commerce integrated platform solution provider and payments conglomerate has entered into an agreement with Jasper Infotech, which owns Snapdeal, to acquire 100% stake in Unicommerce Esolutions Pvt. Ltd. Under the agreement Infibeam will issue Optionally Convertible Debentures on preferential basis to Jasper Infotech valued upto INR 1200 million, subject to shareholders’ approval. The board has also proposed and approved the change of name of the company from Infibeam Incorporation Limited to Infibeam Avenues Limited subject to shareholders’ and other statutory approvals.

Unicommerce is a fully owned subsidiary company of Jasper Infotech and is a market leader in e- commerce enablement software for warehouse management and omni-channel 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 fulfillment, 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. With over 10,000+ sellers and a large number of leading brands and e- commerce players as its clients, Unicommerce enables businesses to seamlessly integrate with leading marketplaces, logistics providers and ERP systems. With the acquisition of Unicommerce eSolutions, Infibeam will further expand and strengthen its e-commerce web service offerings and capabilities.

Infibeam is among one of India’s profitable e-commerce company which offers unique and exhaustive Web Services solution comprising, e-commerce platform (BuildaBazaar), digital payments platform (CCAvenue), and logistics platform (Shipdroid) to the merchants in India and abroad along with running its own e-marketplace, Infibeam.com.

Infibeam acquired CCAvenue, one of the largest payment solution platforms in India. CCAvenue has grown exponentially recording over 50% annual growth in the last three years. It processed transactions worth INR 54.14 billion in Q3 FY18, INR 144.99 billion in the 9 months ending December 2017 (vs. FY17 annualized at INR 122 billion). Recently, the company has also won the bid along with its consortium partner to manage the country’s largest e-commerce portal, Government e-Marketplace (GeM) and has been awarded the contract from National Skill Development Corporation to develop e-Marketplace for skilling resources.

Vishal Mehta, Managing Director, Infibeam Incorporation Limited said, “Unicommerce is a valuable addition to the Infibeam family. Through Unicommerce, we plan to boost our e-commerce enablement capabilities and expand the product offerings for existing clients. Unicommerce fits perfectly with Infibeam’s vision of creating India’s largest e-commerce enablement and payments ecosystem for businesses, including web-front, web domain, logistics and payment solutions. This acquisition would help us further create a comprehensive e-commerce solution by offering extended capabilities to transact with other leading online marketplaces. It will also be pivotal for the growth of our fast growing GeM (Government e-Marketplace) business. We are deeply committed to the growth of Unicommerce, fully support the current management team and plan to further invest in the business.”

Jason Kothari, Chief Strategy & Investment Officer, Snapdeal, said, “Selling Unicommerce to Infibeam is a continuation of the Snapdeal 2.0 plan to divest and focus on our core consumer e-commerce business. We believe Infibeam is the best partner for Unicommerce due to its multiple business synergies. As one example, Unicommerce is set to gain from Infibeam’s growing large merchant base enabled by Infibeam Web Services and creating more comprehensive e-commerce solutions for its clients. Moreover, I am confident Unicommerce will flourish under the guidance of Vishal, who has experience in scaling B2B technology businesses very successfully. We wish Unicommerce and Infibeam the best in their future together.”

Kapil Makhija, Chief Executive Officer, Unicommerce eSolutions said, “This new home is a great opportunity for Unicommerce to benefit from the vast experience and B2B e-commerce expertise of Infibeam. We believe this acquisition will enable us to further innovate on various client solutions and grow the business both in India and internationally rapidly. We are very excited to join and work closely with Infibeam’s leadership team.”