Infibeam to merge (विलय) CCAvenue with itself, valuing online payments co at Rs 2000 crore
Ahmedabad based India’s first listed ecommerce startup Infibeam has announced to merger agreement with India’s largest payment aggregator company CC Avenue on February 14, 2017. The value of the deal is expected (अपेक्षित होना) to value the online payment gateway at about Rs 2,000 crore .
Infibeam, which already owns a 3.85% stake in CC Avenue through subsidiary(सहायक) NSI Infinium Global, has agreed to acquire (अधिग्रहण) another 7.5% stake in it by investing Rs.150 crore. CC Avenue will soon have the Bharat Bill Payments Systems(BBPS) which will facilitate all bill payments for utilities(उपयोगिताओं) and services.
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