Content area
Full Text
Uvik Technologies Private Limited, developer of proprietary contactless technology ‘UPoS’, strikes a Merger and Acquisition (M&A) deal with Infibeam Avenues Ltd, a listed fintech & digital payment company for Rs 75 crore in cash and stock deal.
This acquisition has been closed and as per the deal, Uvik’s investor, a US-based VC firm — Season Two Ventures, headed by former UST Global’s CEO Sajan Pillai, will be getting an exit.
“M&A with Infibeam is a strategic step for Uvik towards its next growth story. The focus of offline payments in the next few years is going to be via contactless...