Indian classified advertising platform Quikr is nearing to buy refurbished goods marketplace Zefo in an all-stock deal.
The purchase price is considered at approximately 200 crore rupees ($29 million).
The acquisition aligns with Quikr's strategy of moving to a transaction-based business model and strengthens its position in the second-hand and refurbished goods space.
With the deal, Zefo expects to benefit from Quikr's customer base, while Quikr will be able to leverage the operational capabilities that Zefo has built around refurbishment and logistics.