Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Infibeam Avenues, a prominent fintech firm, experienced a 10% surge in its shares during today's intraday trade following the announcement of a significant investment.
The company disclosed plans to invest $10 million to acquire a 20% strategic stake in XDuce, a distinguished enterprise application and AI development company headquartered in the United States.
Leading Player in Enterprise Solutions
Based in New Jersey, USA, XDuce boasts a team of over 150 skilled software developers catering to renowned Wall Street and insurance clients across North America. Famous for its proficiency in business application implementation, integration services, and business transformation, XDuce's client roster includes industry giants such as Bank of America, Morgan Stanley, and Goldman Sachs.
Infibeam Avenues aims to leverage this strategic partnership to tap into XDuce's extensive network, particularly for its Phronetic AI Solutions and CCAvenue Payments business in the US, as outlined in an exchange filing on Saturday (February 24).
Integration for Enhanced Solutions and Market Expansion
The equity acquisition in XDuce, approved by the board of directors on Saturday, signifies a strategic move for Infibeam Avenues. This integration seeks to amalgamate Infibeam Avenues' PhroneticAI capabilities into XDuce's existing framework, thereby bolstering platform and payments business growth in the US market.
According to Live Mint, the incorporation of PhroneticAI fraud detection and authentication, as well as risk identification (FAR) AI technology, is poised to elevate the intelligence quotient of XDuce's solutions, particularly within the financial sector in the US.
Additionally, XDuce's partnership will play a pivotal role in expanding the reach of Infibeam Avenues' payment gateway brand, CCAvenue, in the United States. This strategic initiative underscores the company's commitment to fortifying its presence in the lucrative financial sector while reshaping its trajectory of international operations over the next two years.
According to Business World, Infibeam Avenues is an Indian multinational fintech company offering integrated digital platforms encompassing digital payment solutions under the CCAvenue brand and enterprise software solutions under the BuildaBazaar brand.
According to the company's website, renowned as the only listed homegrown, bootstrapped, and profitable fintech conglomerate, Infibeam Avenues boasts a comprehensive fintech portfolio.
Photo: Marga Santoso/Unsplash
