Infibeam in limelight

Infibeam India is currently among the top three gainers on the BSE; from its close of Rs.34.46, the stock today opened at Rs.36 and went up to an intraday high at Rs.37.88. Its not too far from its 52-week high of Rs.40.

The stock price reacted positively to its announcement of acquiring a 20% strategic stake in XDuce, an  r enterprise Application and AI development company based in the United States.

This comes at a cost of $10 million.

Infibeam said that this is a strategic move to integrate Infibeam Avenues Ltd’s PhroneticAI (https://www.phronetic.ai ) capabilities into XDuce’s existing framework as well as support platform and payments business growth in the US market. This integration is aimed at enhancing the intelligence quotient of XDuce's solutions, especially by embedding PhroneticAI Fraud detection and Authentication and Risk identification (FAR) AI technology for the financial sector in the US.

Infibeam aims to tap into the network for its Phronetic AI Solutions and CCAvenue Payments business in the US.

XDuce will support the US growth of Infibeam’s payment gateway brand, CCAvenue.