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  • GSS Infotech Limited Acquires 100% of “farm to store” company Polimeraas with a combination of stock and cash.

    Published on December 7, 2021

    Hyderabad : The board of GSS Infotech limited approves the acquisition of 100% acquisition of an Indian “farm to store” company Polimeraas, with a combination of stock and cash. Polimeraas is valued at Rs.250 cr.

    The merger of Polimeraas Agros with GSS Infotech will be through a scheme transaction subject to the approval of the shareholders, stock exchanges and regulatory authorities.

    Speaking about the merger, Bhargav Marepally CEO of GSS Infotech said ” GSS has always been focused not just growth but on strategic growth opportunities that take advantage of a changing business environment. B2C e-commerce opportunities leveraging core technology strength has always been an integral part of GSS’s inorganic growth strategy to drive growth.

    This, therefore, is clearly the most logical step to take bearing in mind the explosive growth we are going to see for e commerce especially for online and hyper local fulfilment.

    Polimeraas stores are currently ideal dark stores for a hyper local rapid delivery fleet. We see meaningful opportunities to improve efficiency across the value chain by leveraging data analytics. We are also going to focus on creating tech-enabled best in class retail experiences.”