B2B e-commerce firm Indiamart has acquired 26.01% stake in cloud-based account software program agency Adansa Options for ₹13.75 crore, the agency introduced the acquisition on Monday.
As a part of the transaction, Indiamart’s wholly-owned subsidiary Tradezeal On-line Personal Restricted has acquired shares through a mixture of major and secondary share purchases.
Issuing an announcement, Indiamart CEO Dinesh Agarwal mentioned, “In contrast to present desktop based mostly software program options which had been designed for conventional companies, the crew at Realbooks has consciously designed a cloud first product which makes it interesting for brand new age companies.”
“We imagine that this funding enhances different initiatives we’re taking inside this house, and are excited to associate with them for his or her subsequent part of development,” he added.
Adansa Options beneath the model title ‘Realbooks’, gives a cloud based mostly accounting software program product for companies and had turnover of ₹2.6 crore in fiscal 2021.
With company inputs
Supply: Live Mint