Infibeam’s wholly owned subsidiary has acquired Vavian International, for AED 4.32 million.
The company stated, “…Infibeam Global EMEA FZ-LLC, has acquired 100% shareholding of Vavian International Ltd, one of the fast growing digital payment processing company in Middle East region, for AED 4.32 million.”
Vavian International is a digital payment processing company and after the acquisition is completed it will become direct subsidiary of Infibeam Global and a step-down subsidiary of Infibeam Incorporation Ltd. Furthermore, it is expected that the acquisition will be completed in the next 2-4 weeks.
Read EquityPandit’s Technical Analysis of Indian stock Market