Walmart-owned e-tailer Flipkart has acquired direct-to-consumer (D2C) Software-as-a-service (SaaS) platform ANS Commerce for an undisclosed sum.
The deal is expected to close in the second half of 2022, subject to “customary closing conditions”, the company said.
Founded in 2017, ANS provides various services to companies and brands looking to sell online. These include services that help brands set up digital storefronts, integration with marketplaces like Flipkart and Amazon, and warehousing and facilities maintenance services.
Bengaluru-based Flipkart said ANS had more than 100 clients and that it would continue to operate as an independent business under its existing leadership team.
After brands started using ANS’s services, they were able to improve their return on advertisements spent on e-commerce platforms, and in managing logistics and warehousing better, Flipkart said.
The homegrown e-tailer’s association with ANS started last year when the SaaS company was part of Flipkart’s accelerator programme, Flipkart Leap.
“As Indian e-commerce grows, we see new-age brands building direct relationships with their customers. We’re excited to bring new SaaS services via ANS Commerce, to help Indian brands on their D2C journey and look forward to launching new industry-leading SaaS services to businesses adopting digitization,” said Anand Lakshminarayanan, senior vice president, shopping experiences and commerce cloud, Flipkart.
Flipkart has made multiple investments and acquisitions of late.
The company is estimated to have spent around $400-$500 million on mergers and acquisitions over the last 12-18 months as it bought out travel booking site Cleartrip, online pharmacy SastaSundar and most recently invested $145 million along with parent Walmart in Ninjacart, a supply chain startup for fresh produce.
ET reported that Flipkart had also recently invested over $800 million in its businesses, including Flipkart Marketplaces, its healthcare business, and fashion retailer Myntra.
“ANS Commerce was created to enable businesses to leverage the massive opportunity of e-commerce in India. Over the past few years, we’ve seen a dramatic change in consumer behaviour, and as a result, brands have also pivoted in their approach on how to engage with consumers,” said Amit Monga, Nakul Singh, Sushant Puri, and Vibhor Sahare – the founders of the company – in a joint statement.
Source: Economic Times