Indiamart Intermesh has reached an agreement to acquire 100% of the paid-in capital of Busy Infotech (BUSY). Following such acquisition, BUSY will become the wholly owned subsidiary of the Company.
The acquisition cost is up to Rs 500 crore.
Busy Infotech, through its product ‘BUSY Accounting Software’ or ‘BUSY’, offers a web-based business accounting solution for businesses. The solution also offers GST, TDS/TCS returns invoicing and filing, configurable GST compliant invoicing, inventory management. The solution is offered in three variants, namely Basic, Standard and Enterprise Edition.
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