Infibeam Board Nods to Acquire 26% Stake in Infibeam Digital Ent

Infibeam Avenues on Tuesday, July 9, said its board of directors approved to acquire the remaining 26% stake in Infibeam Digital Entertainment to obtain 100% control and also to grab opportunities in digital media technology and live events.
 

Key Takeaways from Infibeam Avenues

• Infibeam Avenues on July 9, said its board of directors approved to acquire the remaining 26% stake in Infibeam Digital Entertainment.
• The move is to obtain 100% control and also to grab opportunities in digital media technology and live events.
• The said acquisition will be completed within a period of 30 days.
• The board also approved the transfer of its artificial intelligence company, Phronetic, and the incorporation of a wholly owned subsidiary AI into the aforementioned business.

The said acquisition will be completed within a period of 30 days. Post the acquisition, Infibeam Digital Entertainment Private would become a wholly owned subsidiary of Infibeam Avenues.

The board of the company also approved the transfer of its artificial intelligence company, Phronetic, and the incorporation of a wholly owned subsidiary.AI into the aforementioned business.

With an initial focus on the fintech and financial sector, the proposed company would be in the artificial intelligence (AI) enabled fraud detection and prevention business space. It would build AI solutions for fraud detection, authentication, and risk identification (FAR) in order to foster the AI ecosystem and develop solutions for the domestic and global market.

To address the growing threats to financial systems, businesses, and national interest, the proposed company would serve as a "One-Stop Shop" that would integrate artificial intelligence (AI) and machine learning (ML) into daily operations, analyse data, and provide businesses, organisations, and governments with effective, winning fraud detection solutions.

One of the top global providers of financial technology (fintech), Infibeam Avenues provides businesses and governments in a variety of industrial verticals with enterprise software platforms and full digital payment solutions. The business offers banks infrastructure in addition to acquiring and issuing solutions as part of its payment infrastructure solution.
 

About Infibeam Avenues Limited

Infibeam Avenues Limited (IAL) headquartered at India’s International Financial hub at Gujarat International Finance Tec-City (GIFT) at Gandhinagar, with offices in Mumbai, Delhi, Bengaluru, the UAE, the KSA and USA. Since the beginning, the company has always focused on building a digital organisation that can scale and solve problems at scale. As a result of its forays into a variety of digitally-driven industries, Infibeam Avenues has grown to become one of India's top suppliers of enterprise software platforms (ESP) and digital payment solutions (DPS). Today, as a global Fintech Company catering to the large and diverse Business-to-Business (B2B) client segment, taking our deep understanding of global e-commerce and digital payments markets.

The company is strengthening its leadership position in the core markets across the industry by staying true to its customer-centric approach and strongly committed to living up to its business mantra—‘Enabling Digital Transaction Globally’. Its illustrious leadership team guides us with proven expertise and experience in the B2B digital payments and enterprise software solutions space.

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