Infibeam to Buy Snapdeal's Unicommerce in Rs 120-Cr Deal

Ahmedabad-based Infibeam today said it will acquire Snapdeal's subsidiary Unicommerce, which offers e-commerce enablement software, in a deal worth up to Rs 120 crore.

"Under the agreement, Infibeam will issue optionally convertible debentures on preferential basis to Jasper Infotech valued up to Rs 120 crore, subject to shareholders' approval," Infibeam said in a statement. In a BSE filing, the e-commerce firm said its board had approved acquisition of the entire share capital of Unicommerce from existing shareholders -- Jasper Infotech (which operates Snapdeal) for a consideration "other than cash".