Amex owned customer loyalty management company Payback and Nasdaq listed Overstock.com are in talks to acquire Klisma, an e-commerce company owned by mid sized IT services company Persistent Systems, according to a new report.
Persistent, which holds 50% stake in Klisma, is looking to exit the business through a potential sale and Klisma has had talks with potential buyers including Payback, the Times of India reported.
The company was founded by Ajay Aggarwal, who sold his earlier company Seacom Solutions to Zensar Technologies, another mid sized IT services provider listed on the Bombay Stock Exchange. The company sells mostly to corporate employees through its distribution tie ups with IT companies. The e-commerce portal also aggregates demand to get its members group discounts.
Persistent Systems, however, distanced itself from the report but did not deny it either. The company said that the “News Item is not issued by the Company or its official nor the Company or its official was a party to the News Item.”
The Company does not take responsibility of the News Item in any manner, Persistent said in a BSE filing.