AvenuesAI Limited — M&A Activity 2020

Apr 20, 2020

BSELimitedPhiroze Jeejeebhoy Towers,Dalal Street, Fort,Mumbai -400001Company Code No.: 5398CW	National Stock ExchangeoflndiaLimitedExchange Plaza,BandraKurla Complex,Bandra(East),Mumbai-400051Company Symbol:INFIBEAM

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		Annexu	Annexu
Sr.No.	DetailsofEventsneedtobeprovided	InformationofsuchEvents
1	Name of the target entity, details inbrief such as size, turnover, etc.	Name:AIFintech, IncTurnover:USD1,25,158
2	Whether the acquisition wouldfallwithin related party transaction(s)?Ifyes,whetherthe same is doneat"arm's length"	No
3	Industry to which the entity beingacquired belon~s	Information Technology and Digital Payments
4	Objects and effects of acquisition(includingbutnotlimitedto,disclosure of reasons for acquisitionof target entity, if its business isoutside the main line of business ofthe listed entitv)	Toexpand Digital Payments business in UnitedStates,:·
5	Brief detailsofany governmentalorregulatory approvals required forthe acauisition	N.A.
6	Indicativetimeperiodforcompletion of the acquisition	Within 30 days
7	Nature of consideration - whethercash considerationorshare swapand details of the same	Cash Consideration
8	Cost of acquisitionorthe priceatwhich the sharesareacquired	Not exceedingUSD5,000
9	Percentage of shareholding / controlacquired and /ornumber of sharesacquired	100%shareholdingwithfullbusiness,management, financial and operational control byInfibeam Avenues Limited.The Target Company will become Wholly OwnedSubsidiary oflnfibeam Avenues Limited.
10	Brief background about the entityacquired in terms of products/line ofbusinessacquired,dateofincorporation, history of last 3 yearsturnover, country in which theacquired entity has presence andany other significant information (inbrief)	Date of incorporation: January 22, 2007Country: United StatesProducts/line of business acquired: InformationTechnology and Digital PaymentsHistory of last 3 years'turnover:FinancialYearTurnover(In USDlFY20181,25,158FY20172,52,050FY20162,33,296
		FinancialYear	Turnover(In USDl
		FY2018FY2017	1,25,158
			2,52,050
		FY2016	2,33,296

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