Infibeam Incorporation (Infibeam) is an e-commerce company focused on developing integrated and synergistic e-commerce business models, announced that Infibeam Global EMEAFZ-LLC, the wholly owned subsidiary of our Company, based in Dubai has acquired 100% Shareholding of Vavian International, a Company formed and registered in Dubai (Target Company). The acquisition is expected to be completed in next 2 to 4 weeks.

On completion of aforesaid acquisition, Vavian International will become direct subsidiary of Infibeam Global EMEA FZ-LLC and a step-down subsidiary of Infibeam Incorporation.

Shares of the company declined Rs 1.05, or 0.64%, to trade at Rs 163.95. The total volume of shares traded was 723,355 at the BSE (3.18 p.m., Monday).