B2B marketplace IndiaMART acquired a 26% stake for INR 104.2 Crore in Japan-based IB Monotaro from Emtex Engineering. The venture aims to serve B2B businesses by offering an end-to-end commerce experience enablement.
IndiaMART, India's largest B2B marketplace, has acquired 26% (on a fully diluted basis) of the share capital of IB Monotaro Private Limited (IMPL). "For a total consideration of Rs 104.2 crore, the company acquired 8.1 lakh shares from Emtex. Engineering Private Limited," Indiamart said in a separate statement. Under the brand name 'Industry Buying,' IB Monotaro operates an e-commerce business in India for industrial and business supplies. Indiamart expects the transaction to be completed within 30 days.