Infibeam Avenues to secure 54% of Rediff.com through strategic acquisition deal
The combined entity is set to enhance Infibeam’s position in the digital finance aggregation space
Gujarat-based Infibeam Avenues Ltd announced on Friday that it has acquired a 54% stake in Rediff.com India Ltd, one of India’s oldest and most renowned internet businesses. This strategic acquisition, valued at approximately Rs. 50 crore and funded internally through a mix of equity and debt, signifies a significant milestone for Infibeam Avenues as it expands its consumer-facing digital financial services.
This acquisition marks the start of Infibeam’s venture into providing comprehensive digital services, leveraging Rediff.com’s established brand and services such as cloud-based enterprise email storage, content distribution, and related commerce offerings. The combined strengths of Infibeam’s fintech expertise and Rediff.com’s well-regarded services are expected to create a seamless digital environment that integrates financial transactions with content consumption.
“This transaction harnesses the synergies between Infibeam Avenues’ fintech expertise and Rediff.com’s esteemed brand legacy. We are poised to cement our position as a leader in the dynamic landscape of digital finance aggregation, cloud storage, and content distribution,” said Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd.
Ajit Balakrishnan, Chairman and CEO of Rediff.com, expressed his confidence in the acquisition, stating, “I am delighted to pass on this iconic brand and its legacy into the capable hands of Mr. Vishal Mehta and Infibeam Avenues. I strongly believe that the new avatar of Rediff under his leadership will further strengthen the company and accelerate business growth.” Balakrishnan, who founded Rediff.com in 1996, will continue to advise the company.
Infibeam Avenues, known for its digital payment gateway CCAvenue and enterprise software platforms, plans to integrate its digital payment services, platform business offerings, and AI solutions with Rediff.com’s services. This integration aims to enhance user engagement and open new revenue streams.
Rediff.com boasts a substantial user base, ranking among the top 1,000 sites globally in traffic with over 55 million monthly visitors. Infibeam plans to leverage this vast user base to gain valuable insights into consumer behavior, preferences, and spending patterns, which will be instrumental in cross-selling financial products such as loans, insurance, and investment products using artificial intelligence.
The acquisition will diversify Infibeam’s portfolio by incorporating Rediff.com’s offerings, including enterprise email services for merchants, consumer financial services, and content businesses. This expansion is expected to bolster Infibeam’s footprint in the digital economy, supported by its regulatory capabilities.
The combined entity is set to enhance Infibeam’s position in the digital finance aggregation space, creating a comprehensive digital environment where financial transactions and content consumption seamlessly coexist.
