Infibeam Incorporation Limited, a Indian ecommerce company, said it entered into licensing agreement and joint venture with Dubai-UAE based KSK capital for offering “e-commerce solutions to merchants and consumers” in about 40 countries in Middle East & Africa.
It was not clear whether Infibeam would provide the back-end software and platform for the project or whether it would also provide its brandname and whether the website will be hosted on Infibeam.com.
The joint venture company will be held in 49:51 ratio between Infibeam and KSKcapital.
KSKcapital is an investment arm of Ascorp Holdings, a general investment and holding company based in Abu Dhabi, UAE with US$ 2 billion plus of assets under management.
Infibeam is an Indian internet and e-commerce compnay involved in online retailing, e-commerce software and internet services headquartered in Ahmedabad.
It is an online retailer for books, electronics, and automobiles in India started in 2007 founded in 2007 by Vishal Mehta, a Cornell and MIT Sloan alumnus.
It is the only major listed ecommerce player in the country, and one of the few to be profitable.