Infibeam Avenues: E-tailer Infibeam buys UAE-based digital payments firm

Infibeam Incorporation Ltd, the parent of the country's only listed e-commerce company, has acquired 100% stake in Vavian International, a digital payments processing company which has operations in the Middle East.. The deal was valued at around AED 4.32 million (Rs 8 crore or $1.17 million). Ahmedabad-based Infibeam said in a statement that the acquisition will be completed in the next two to four weeks. The deal will see Dubai-based Vavian International Ltd will become a direct subsidiary of Infibeam Global EMEA FZ-LLC, a subsidiary of Infibeam Incorporation Ltd. Vavian claims to process 2,500 transactions daily with [...]