NEW DELHI: Jasper Infotech has begun preliminary discussions to sell its SaaS-based, ecommerce-focused, warehouse management company Unicommerce eSolutions , a transaction, which if successful, will be the last major asset sold by the company as it looks to raise cash.The company is believed to have initiated conversations with multiple parties, including ecommerce giant Amazon and Nasdaq-listed business software provider Intuit, according to sources briefed on the developments. When contacted by ET, both Amazon and Intuit spokespersons declined comment, stating they did not comment on speculation, particularly those related to M&A activities. An email sent to Jasper Infotech did not elicit any response at the time of going to press.While the talks are still believed to be at a very early stage, the sources told ET that the Gurugram-based company is seeking an enterprise valuation of Rs 150 crore-200 crore for Unicommerce eSolutions, which it had acquired in a cash-and-stock deal in 2015, estimated at about $40 million.A potential acquisition of Unicommerce could fit into both companies' strategy. The company, which claims to process close to 100 million orders annually and has more than 10,000 sellers, counts leading online companies such as Amazon, Jabong, Flipkart and eBay clients. It also works with the likes of Raymond, Ritu Kumar and Puma.The developments follow the sale of Vulcan Express by Snapdeal last week to Kishore Biyani-promoted Future Supply Chain Solutions for Rs 35 crore.The sale of Vulcan is the second such by Jasper Infotech over the past six months, as it continues to shed, what have been deemed as non-core assets, in a bid to raise cash, and focus more on its core marketplace operations.

Source: Economic Times January 29, 2018 03:22 UTC