Infosys Ordered to Liquidate Its Subsidiary Skava, A Digital Commerce Firm It Acquired for $120 Mn

Skava Pvt. Ltd., a wholly owned subsidiary of Infosys Ltd., was recently liquidated by the National Company Law Tribunal (NCLT) effective from November 14, 2024.

The liquidation of Skava Pvt. Ltd. was ordered by the NCLT. Infosys received a certified copy of the order on November 28, 20241. The NCLT's decision was based on Skava's reclassification from "held for sale" status in 2019 and its net worth of Rs 2.72 crore as of March 31, 2024.

Infosys shares fell by 3.53% following the announcement of Skava's liquidation.

Infosys had initially acquired Skava, a digital commerce firm, for $120 million in 2015 as part of its strategy to enhance digital experiences for clients. However, plans to sell the firm were eventually abandoned, and its assets were repurposed its business as they didn't expect a sale to materialize.

Skava Pvt. Ltd. was a digital commerce firm acquired by Infosys in 2015 for $120 million. The company specialized in providing digital experience solutions for the retail industry. Infosys acquired Skava as part of its strategy to enhance digital experiences for clients through IP-led technology offerings.

Infosys took a cumulative write-off of Rs 451 crore for Skava, including Rs 358 crore towards goodwill and Rs 93 crore towards the value of customer relationships.

Skava Pvt. Ltd. was founded in 2002, by Arish Ali and Arvind Parthasarathy. The company initially focused on providing modern e-commerce capabilities to business clients, offering modular microservices architecture and rich front-end applications.

Skava was primarily backed by accelerator/incubator programs before being acquired by Infosys.

FedEx Integrates WhatsApp Notifications into Digital E-Commerce Delivery Solution for Indian Consumers

Integration of WhatsApp in FedEx® Delivery Manager International makes last-mile delivery even easier

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world's largest express transportation company, is enhancing its services with delivery notifications and personalized options now available on WhatsApp. The integration of one of the world’s most popular instant messaging apps into the FedEx® Delivery Manager International (FDMi) e-commerce solution is launched in India.

FDMi is an interactive e-commerce delivery solution that provides customizable delivery options and alerts. E-tailers using the solution can offer their customers the ability to pick the timing and location of their deliveries to fit their schedule – and change the delivery address when the shipment is in transit – giving them extra flexibility at no extra cost.

The WhatsApp instant messaging social media platform has 2 billion active monthly users globally. Over 80% of the population over the age of 16 in India, use it, and for 96% of users it‘s the most favored social media platform. With such high penetration, the integration of WhatsApp into FDMi makes it a much more effective solution for e-tailers to offer to their shoppers.

Recipients expecting inbound deliveries receive a WhatsApp notification from FedEx upon shipment pickup. FedEx uses a META-verified WhatsApp business account which helps mitigate the risk of recipients responding to scams perpetrated on WhatsApp using the FedEx brand. Recipients can message and chat with FedEx directly as well as access tracking status and re-direct options with the click of a button directly in the WhatsApp chat window.

“We know that consumers have an increasing preference for personalized delivery services. Integrating social platforms of choice like WhatsApp into our digital solutions gives an added boost to the convenience we can offer to e-commerce customers,” said Salil Chari, senior vice president, Marketing and Customer Experience, AMEA. “This service enhancement that allows two-way engagement is another example of how we are working at the intersection of our digital and physical networks to create differentiated, customer-centric service experiences.”

The integration of WhatsApp into FDMi is a win-win for all participants in the e-commerce ecosystem. In an increasingly competitive online marketplace, FDMi helps e-tailers, especially SMEs, provide a differentiated service offer. Customers get more peace of mind through the traceability of their package on their mobile device, as well as an enhanced online shopping experience. It also helps FedEx minimize delivery attempts to recipients who may not be at the registered delivery address.

About FedEx Express

FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed the delivery of time-sensitive shipments by a definite time and date.

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