Ahmedabad-based Infibeam said it will acquire Snapdeal’s subsidiary Unicommerce, which offers e-commerce enablement software, in a deal worth up to ₹120 crore.
“Under the agreement, Infibeam will issue optionally convertible debentures on preferential basis to Jasper Infotech valued up to ₹120 crore, subject to shareholders’ approval,” Infibeam said.
In a BSE filing, the e-commerce firm said its board had approved the acquisition of the entire share capital of Unicommerce from existing shareholders — Jasper Infotech (which operates Snapdeal) for a consideration “other than cash“.