wordpress blog stats
Connect with us

Hi, what are you looking for?

Infibeam acquires custom software developer DRC Systems

Ecommerce and software services company Infibeam has acquired DRC Systems Private Limited, a company which specializes in providing software for enterprise e-commerce and ERP related solutions, the company informed via a notification to the stock exchanges. The acquisition was an all-cash deal worth Rs 6 crore.

DRC Systems has been providing customized solutions for Infibeam’s BuildaBazaar platform which provides cloud-based solutions for merchants. DRC Systems employs 200 software engineers and the company builds customized solutions on proprietary and open source software frameworks. The engineers are expected to join the company following the acquisition.

Infibeam’s merchant base for BuildaBazaar stood at 66,109 merchants for the quarter ended December 2016 (Q3 FY2017), up 4,861 (8%) from 61,248 at the end of the previous quarter. The segment posted revenues of Rs 40.2 crore, a rise of 49% from Rs 27 crore in the same quarter last year. It also posted a profit of Rs 21.39 crore for the quarter, up 55.5% from Rs 13.75 crore in the same period last year.

Infibeam added that DRC Systems is a profitable company and it posted revenue in excess of Rs 10 crores as on February 28, 2017.

CCAvenue acquisition 

Advertisement. Scroll to continue reading.

Earlier this month, Infibeam entered into a MoU with Avenues India, which runs the payment gateway CC Avenue, to pick up 7.5% stake for Rs 150 crore and will be looking to acquire the company. In May last year, it had invested Rs 45 crore in CC Avenue. “Subsequently, amalgamation of CC Avenue into Infibeam by issuance of fresh shares subject to due diligence and regulatory approvals.” At Rs 150 crore for 7.5%, the deal values CC Avenue at Rs 2000 crore.

Infibeam added that CC Avenue is a profitable company with transaction processing volume of more than Rs 15,000 crore and serving more than 100,000 merchants for their payment solutions to merchants.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...


By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ