Online retailer Infibeam today said its subsidiary has formed a joint venture with Dubai-based KSK capital for offering e-commerce solutions.
The joint venture company, to be held in 49:51 ratio between Infibeam Global EMEA FZ-LLC, Dubai and KSK Capital, would cater to about 40 countries in Middle East and Africa (MEA) region for offering e-commerce solutions to merchants and consumers.
“Infibeam Incorporation Ltd, through its wholly owned subsidiary i.e. Infibeam Global EMEA FZ-LLC, Dubai has entered into a licensing arrangements and joint venture with Dubai UAE-based KSK Capital for offering e-commerce solutions of marketplace and distributed marketplace along with digital marketing under its global platform,” it said in a BSE filing.
KSK Capital is an investment arm of Ascorp Holdings, a general Investment and Holding company based in Abu Dhabi, UAE with USD 2 billion plus of assets under management.