Automobile marketplace Droom has acquired augmented reality startup Visiolab Ideas, while FirstMeridian has acquired IT staffing business CBSI India. Separately, Infibeam Avenues has sold a 51% stake in its wholly-owned subsidiary Infibeam Logistics.
Droom acquires Visiolab Ideas
With this acquisition, Droom will provide a live virtual tour of vehicles to customers who can experience it in 3D, it said in a statement. Droom had allocated Rs50 crore ($6.8 million) last year towards building new and innovative products using AI, AR, and VR.
Droom will leverage technological innovations powered by AR/ VR in addition to tools using artificial intelligence, machine learning, and big data to offer new products and solutions for automobile commerce, it said.
FirstMeridian buys IT staffing biz
CBSI and its employees will now operate as part of the FirstMeridian group. The company has both contract staffing and permanent recruitment segments and has been serving the technology services industry.
Established in mid-2018, FirstMeridian’s past acquisitions include Cornucopia, Innovsource, V5 Global, and Affluent Global.
Infibeam sells majority in logistics arm
Infibeam Avenues Ltd, the parent of payment gateway CCAvenue, has sold a 51% stake in its wholly-owned subsidiary Infibeam Logistics Pvt Ltd to Osia Hypermart Retail Ltd for Rs 19 crore ($2.6 million).
Ahemdabad-based Osia is a supermarket chain, which offers thousands of products across consumer goods, apparel, home furnishings, appliances, and other segments. It currently operates about 13 stores across the state.
In a BSE filing, Infibeam said the logistics arm accounts for 2.78% of its consolidated turnover and 1.2% of its net worth. It expects the sale to be competed on or before November 15, 2020.