Infibeam Avenues announced that a binding Memorandum of Understanding ("MoU") has been signed between
Infibeam Global EMEA FZ-LLC, the wholly owned subsidiary of the Company and Unipropitia - FZCO (Investors) wherein the Unipropitia Group will invest in Infibeam Global EMEA FZ-LLC for an aggregate consideration not exceeding USD 25 million with Control on signing of the MoU. As a result, the Investors shall hold 51% stake in the said
Company and, hence, lnfibeam Global EMEA FZ-LLC will no longer be its wholly owned subsidiary/ subsidiary.
Unipropitia FZCO is a leading professional services and investment firm headquartered in UAE. The company has made investments in several technology companies with focus on large scale technology implementation for Institutions and Government in the middle east region.
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