M&A
B2B marketplace IndiaMART acquires accounting s'ware co Busy Infotech for Rs.500-Cr
B2B marketplace IndiaMART is acquiring Mumbai-based accounting software company Busy Infotech Pvt Ltd for INR 500 crore in an all cash deal. The acquisition includes 100% paid up capital in Busy represented by 45,000 equity shares (having a face value of INR 10) at a premium of INR 1,11,101 per equity share from the existing shareholders. Incorporated in 1997, Busy Infotech is an accounting software company with a revenue of INR 42.4 crore and net profit of INR 11 crore in FY 2021.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
