This Friday Infibeam incorporation limited put forth intimate information that it has been spending almost Rs 150 Crore for owning a major part of stakes i.e. 7.50 percentages prompted for taking the power of control and maintains in CCAvenue.
Total investment of the company in CCAvenue
As per its public statement, the board has affirmed the Indian online and ecommerce business organizations spend venture of Rs 60 crore for owning 3.85 percent stake of CCAvenue through NSI Infinium Global Pvt. Ltd which is its subsidiary.
So total investment in CCAvenue by Infibeam rose to Rs210 crore that indicates that it has become owner of 11.35 percent of total stake of the company.
Infibeam already paid Rs 150 crore
Infibeam revealed the information that it has signed on a legal documentation to the Memorandum of Understanding (MoU) and already paid the payment of Rs 150 crore and gained the 7.50 percent of stake and also acquired the control over CCAvenue.
It was accounted for a month ago that Infibeam had consented to an arrangement to converge with the Payment Gateway.
Infibeam integrate the payment part in to its framework
After the above declaration, Vishal Mehta, Founder and CEO of Infibeam convey to the media with his words that includes:
“In June last year, we did a strategic investment in CCAvenue. We will integrate payment as part of our existing framework of build-a-bazaar, which is a distributed marketplace. As a result, we will meet the merchant requirement of a payment gateway”.
CCAvenue will get stakes in Infibeam
Vishal added in his statement that CCAvenue will also get some parts of shares and stakes of Infibeam followed with intermingled of these business and sequential approvals.
All these prompted that CCAvenue get values of Rs 2000 crore.
Infibeam and DRC Systems
According to the latest article of the Economic Times, Infibeam has also signed a MoU to gain DRC Systems Pvt. Ltd through NSI Infinitum Global Pvt. Ltd.
DRC Systems is a cloud based ERP solutions provider that is a leader in customised software solutions for e-commerce application.