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Infibeam Avenues acquires 54.1% stake in Rediff for Rs 25 crore.
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Acquisition to diversify Infibeam’s offerings and increase user engagement.
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Rediff’s user base to provide data insights for cross-selling financial products.
Infibeam Avenues, a payments infrastructure firm, has acquired a majority stake in Rediff, an internet business firm. The acquisition is worth Rs 25 crore and will allow Infibeam to diversify its offerings and increase user engagement. Rediff’s cloud-based services, including enterprise email storage and content distribution, will be integrated with Infibeam’s payment gateway and software services.
The acquisition will also provide Infibeam with access to Rediff’s user base, which attracts 38 million monthly visitors. This will enable Infibeam to cross-sell financial products, such as loans and insurance, using artificial intelligence. Rediff’s chairman and CEO, Ajit Balakrishnan, will continue to work as an advisor to the firm.
The acquisition is expected to strengthen Infibeam’s position in the digital finance and cloud services market. Infibeam’s chairman and managing director, Vishal Mehta, said that the synergy between the two companies will unlock new dimensions of growth and redefine the essence of cloud and fintech engagement.
