Ingenius E-commerce acquires Infinium from Infibeam for ₹60 crores

Ad

10 Industries That Will Grow High till 2020

10 Industries That will Grow High till 2020 in India

India has turned up to be one of the fastest and most economically emerging countries in the past years with rapid growth in many industries utilizing the full potential of increase in Urbanization. With...

Ad

5 Tips for Making the Most of Account Receivable...

Accounts receivable is the money that keeps your business running. Whenever you issue an invoice to your client, you have made a sale and when the customer pays the invoice, you have cash flowing...

Ahmedabad based B2B aggregator for industrial goods Tradohub has acquired a 100 per cent stake in Infinium for ₹60 crores. Tradohub is owned and operated by Ingenuis E-Commerce while Infinium was a part of Ahmedabad-based Infibeam Avenues. According to a Bombay Stock Exchange (BSE) filing, Infibeam Avenues has divested the ownership in $Infimium to Ingenius E-commerce.

Both the companies signed the Memorandum of Understanding (MoU) on 19th of this January and the deal is expected to be completed by 31st of this month. Following the transaction, Ingenius will improve the technical capability and expand its merchant base using the new firm.  Furthermore, it will expand its distribution across segments like IT products, appliances, consumables, software and services.

Infinium provides designing and implementation of large technology solutions like hardware, software, satellite and digital communications. The firm provides DoT approved shared hub VSAT services and solutions like broadband to provide networking and connectivity. The firm earns its revenues from trading and distribution of consumer products and selling e-commerce solutions to government and enterprise clients.

On the other hand, Ingenius has grown 50 per cent year on year and clocks ₹300 crores in revenue. It’s subsidiary Tradohub has registered more than 10,000 SMEs across the country and from various sectors like food and agriculture, chemicals, metals, pharmaceuticals, polymers and various other sectors.

The development comes after months when Infibeam’s stocks crashed on the market followed by auditor raising concern over CCAvenue’s merger. The auditing arm of EY India SRBC & Co LLP has asked for a detailed report for a probe into the company’s merger with the payment gateway.

So, what are your thoughts on this story?
Tell us in the comments.

Boost Your Knowledge. Subscribe & Learn Everything about the Indian Startup Ecosystem

SW Staffhttps://startupwonders.com/guestpost
Startup Wonders provide startup resources, stories and news to help budding entrepreneurs grow and succeed in their business career.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Free Download WordPress Themes
Premium WordPress Themes Download
Download WordPress Themes Free
Download Premium WordPress Themes Free
free download udemy course
download redmi firmware
Download Nulled WordPress Themes

Receive Daily Funding Updates

SUBSCRIBE
Close

WANNA SUBSCRIBE

GET DAILY UPDATES ABOUT THE STARTUP ECOSYSTEM
I AM IN
* Terms & Conditions Apply
close-link