Flipkart acquire Snapdeal  

by Business | 27-07-2017 | 313 views

 

Bengaluru : After months of deals back and forth, Snap deal has accepted Flipkart’s $900-950 million buyout offer. The Jasper Infotech board which runs Snap deal has agreed to the deal which would make it the biggest acquisition in Indian e-commerce space. SoftBank, Snapdeal’s largest investor, has been proposing the sale for some time now. Flipkart’s initial offer of $800-850 million was waved off but later, Flipkart revised the offer to $900-950 million and both parties came to a formal agreement. According to reports, the Flipkart Board will be meeting this week to discuss the details of the proposed buyout.

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