Korea Display System has announced that it will acquire Marine Cosmetics for $9.59m. The amount will be paid through a combination of cash, treasury and notes and will be retrieved by the acquiring company from its reserves.
Korea Display System is a semiconductor testing equipment manufacturing company based in South Korea, whereas Marine Cosmetics is a South Korean company involved in manufacturing of beauty products.
Indian e-retailer of consumer products, NSI Infinium Global, a wholly owned subsidiary of Infibeam Incorporation (Infibeam.com), will fund $6.69m in Avenues (India) Private Limited (CC Avenue), a company which offers online transaction facilities.
A definitive agreement has been signed by the company for the same.
SoCoMo Technologies (Jugnoo), an online auto rickshaw aggregator company based in India, has taken over SabKuchFresh, an e-retailer of vegetables and fruits also based in India.
The move aims to further strengthen the latter’s ‘Fatafat’ grocery delivery service.
Image: South Korean beauty products manufacturing company Marine Cosmetics has been acquired by Korea Display System. Photo: courtesy of WerbeFabrik.