Infibeam Acquires Snapdeal’s Unicommerce for Rs 120 Cr
Ahmedabad-based distributed eCommerce market platform, Infibeam has acquired 100% stake in Snapdeal’s wholly owned subsidiary Unicommerce, a cloud-based inventory management company. It’s a non-cash deal and the deal size is upto Rs 120 crore, where Infibeam will issue optional convertibles preferential shares to Snapdeal.
This is fourth business sold by Jasper Infotech, after it sold FreeCharge to Axis Bank, GoJavas to Pigeon Express and Vulcan Express to Kishore Biyani’s Future Supply Chain Solutions.
With this acquisition, Infibeam plans to boost its eCommerce enablement capabilities and expand the product offerings for existing clients.
Founded in 2012, Delhi-based Unicommerce was set up by three IIT-Delhi friends Ankit Pruthi, Karun Singla and Vibhu Garg. The company was later acquired by Snapdeal’s parent Jasper Infotech in 2015 at about $40 million.
It offers warehousing management or inventory management, multichannel, omni-channel and order fulfillment solutions to various businesses across India. It claims to process over 100 million orders annually and has over 10,000 sellers across 220 cities on its platform. The client companies include Amazon, Jabong, Flipkart and eBay, Lenskart, Raymond, Ritu Kumar, and Puma.
In last few years, Infibeam has acquired digital payment company – CC Avenue and cloud ERP solutions provider -- DRC Systems. This would be its first acquisition in the FY 2018-19.
