Ecommerce Solutions Provider Infibeam Incorporation Acquired DRC Systems
DRC Systems provides cloud enterprise ERP solutions and develops customised software for e-commerce applications. Infibeam has been engaging DRC Systems’ services to provide customised BuildaBazaar solutions to its merchants in the domestic and international market, the Ahmedabad-based listed company said in a statement.
BuildaBazaar, a distributed marketplace platform of Infibeam, is used by more than 66,000 merchants. Serving regular needs of merchants in customising e-commerce applications, DRC Systems has been serving BuildaBazaar customisation for some of the key merchants of Infibeam.
DRC System is a profitable entity with revenue in excess of 10 crores as on Feb 28, 2017. Infibeam expects to grow the revenue and profits of DRC Systems under an integrated value added services offering.
Ecommerce solutions provider Infibeam was founded in 2010 by former Amazon executive Vishal Mehta. Infibeam restricted itself from raising private capital.
Through this acquisition, Infibeam and DRC Systems will be able to jointly serve an ever-growing needs of customers in customising their e-commerce platforms. Such needs are growing further with Infibeam’s foray into global markets under tie-ups with Sears USA, Saudi Telecom for MENA region and its fully-owned subsidiary in the West Asian region. Infibeam has also tied up with IL&FS Infrastructure, Government of Sikkim, for powering digital enterprise of public sector enterprises, the statement said.
Under the acquisition of DRC Systems, the software team will grow by an additional 200 developers and technology professionals. DRC System is a profitable entity with revenues in excess of Rs. 10 crore as on February 28, 2017.
Earlier this month, Infibeam entered into a pact to merge CCAvenue with itself in a deal that is expected to value the payment gateway firm at INR 2,000 crore (US $298 million). Infibeam already has a joint venture with Avenues India that runs online marketplace Dhamaal.com, where merchants sell their products and promote their brands.
CC Avenue has a transaction processing volume of more than Rs. 15,000 crore and serving more than 100,000 merchants for their payment solutions to merchants.