Indiamart to buy 26% of Shipway Technology, invest more in Truckhall : vimarsana.com

Indiamart to buy 26% of Shipway Technology, invest more in Truckhall


Indiamart Intermesh has indirectly, through its wholly owned subsidiary, Tradezeal Online Private, agreed to acquire 26% of the share capital of Shipway Technology on fully converted and diluted basis.
The company, through its wholly owned subsidiary, has agreed to acquire 100 equity shares and 4,088 Convertible Preference Shares (CCPS).
Shipway Technology is engaged in the business of developing SaaS based solutions which allow small businesses to automate their shipping operations.
Indiamart Intermesh has also agreed to acquire 3.02% of the share capital of Truckhall on fully diluted basis in addition to 22% of the share capital (on fully diluted basis) already held by the company.

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