Walmart group's e-commerce firm Flipkart on Tuesday said it has acquired ANS Commerce to strengthen its online retail ecosystem in the country.
Post the acquisition ANS Commerce will continue to operate as an independent e-commerce solutions platform under its existing leadership team, Flipkart said in a statement.
"Our association with ANS Commerce started last year when they were part of Flipkart's tech startup accelerator program, Flipkart Leap, and we are pleased to welcome the team to the Flipkart group," said Ravi Iyer, Flipkart's senior vice president, and head - corporate development.
Started in 2017, ANS Commerce works with more than 100 clients across the enterprise, mid-market, and D2C (Direct-to-Consumer) brands in different categories.
ANS's key focus is on the D2C segment which is rapidly growing in the Indian market as more brands want to connect with their consumers.
"Over the past few years, we have seen a dramatic change in consumer behavior, and as a result, brands have also pivoted in their approach on how to engage with consumers. We are pleased to be associated with the Flipkart group as we continue our efforts to help brands leverage the power of technology to reach customers and deliver further value," ANS Commerce founders said in a joint statement.
The deal is expected to close in the second half of 2022, subject to customary closing conditions.
"We are 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, Flipkart's senior vice president, shopping experiences and commerce cloud.