E-commerce solutions provider company Infibeam Incorporation Ltd, on Friday, announced signing of an MoU to acquire DRC Systems Pvt Ltd through its wholly-owned subsidiary NSI Infinium Global Pvt Ltd for an undisclosed financial consideration.

DRC Systems provides cloud enterprise ERP solutions and develops customised software for e-commerce applications. Infibeam has been engaging DRC Systems' services to provide customised BuildaBazaar solutions to its merchants in the domestic and international market, the Ahmedabad-based listed company said in a statement.

BuildaBazaar, a distributed market place platform of Infibeam, is used by more than 66,000 merchants. Serving regular needs of merchants in customising e-commerce applications, DRC Systems has been serving BuildaBazaar customisation for some of the key merchants of Infibeam.

Through this acquisition, Infibeam and DRC Systems will be able to jointly serve an ever-growing needs of customers in customising their e-commerce platforms. Such needs are growing further with Infibeam’s foray into global markets under tie-ups with Sears USA, Saudi Telecom for MENA region and its fully-owned subsidiary in the West Asian region. Infibeam has also tied up with IL&FS Infrastructure, Government of Sikkim, for powering digital enterprise of public sector enterprises, the statement said.

Under the acquisition of DRC Systems, the software team will grow by an additional 200 developers and technology professionals. DRC System is a profitable entity with revenues in excess of Rs. 10 crore as on February 28, 2017.

Infibeam had recently signed an MoU to invest and merge financial technology company, CC Avenues, for offering payment aggregation and integration services to their merchants. CC Avenue has a transaction processing volume of more than Rs. 15,000 crore and serving more than 100,000 merchants for their payment solutions to merchants.