Akshata Sharma
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Payments infrastructure company Infibeam Avenues Limited has signed an agreement to acquire a 54.1% stake in Nasdaq-listed digital content and ecommerce marketplace Rediff.com for INR 25 Cr
The majority stake acquisition in Rediff.com, expectec to be finalised within the next three months, will mark Infibeam's foray into the consumer-facing digital financial services industry as an aggregator.
Founded in 1996 by Ajit Balakrishnan, Rediff.com is a Mumbai-based internet company that provides news and information, enterprise email services and an online digital marketplace. It is one of the oldest information companies from India.
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