WOGOM, a B2B marketplace has announced a strategic acquisition of Ckart Online, a business division of Creative Newtech Ltd.
The company said that the acquisition boosts its presence in B2B e-commerce market. The acquisition was undertaken to explore new horizons and increase geographical reach within space.
By acquiring Ckart Online, WOGOM will be able to extend its footprint across India, tapping into more than 25 regions with a network of over 8,000 trade partners, and representing more than 25 exclusive brands, it said.
Under the Business Transfer Agreement (BTA) between WOGOM and Creative Newtech Ltd., WOGOM has acquired Ckart Online on a slump sales basis, the statement read.
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In a joint statement, Nirav Patel, founder and CEO, and Ravi Patel, c-founder and director of WOGOM, have expressed their eagerness regarding the acquisition of Ckart Online. The strategic decision reaffirms their commitment to expanding their presence in the B2B e-commerce market and delivering exceptional value to their customers and partners. They look forward to leveraging synergies between the two companies to drive growth and innovation in the industry.
Nevertheless, the acquisition is still subject to regulatory approvals and customary closing conditions. Once completed, WOGOM will work closely with the Ckart Online team to ensure a seamless transition for all involved stakeholders, the company added.
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