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Saturday, March 4, 2017

Infibeam acquired cloud ERP solutions provider DRC Systems

Popular ecommerce venture Infibean has signed memorandum of understanding (MoU) to acquire DRC Systems Pvt Ltd through its wholly-owned subsidiary NSI Infinium Global Pvt Ltd.

DRC Systems provides cloud ERP (enterprise resource planning) solutions and develops customised software for e-commerce applications. Infibeam has been engaging its services to provide customised BuildaBazaar solutions for their merchants in domestic and international market. BuildaBazaar, a distributed market place platform of Infibeam, is used by more than 66,000 merchants as on quarter ended December 2016.

Also check: Bharti Airtel to acquire Telenor group

Infibeam MD Vishal Mehta said, Through this acquisition, Infibeam and DRC Systems will be able to jointly serve an ever growing needs of customers in customising their ecommerce platforms.

Recently Infibeam acquired CCAvenue, a digital payment gateway company, for an expected valuation of Rs 2000 crore. Infibeam, which already owns 3.85% stake in CCAvenue through its subsidiary NSI Infibeam Global, acquired another 7.5% stake in it by investing Rs 150 crore.

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