EghtesadOnline: Following marathon talks between Takhfifan and NetBarg, major Iranian e-commerce platforms, have forged a merger and acquisition deal.
Both startups offer products and services at significantly reduced prices.
The M&A deal was hammered out by Iranian equity firm Sarava Pars, local news website Peivast reported.
NetBarg CEO Alireza Sadeghinia said a press conference will be held to publish further details about the deal, Financial Tribune reported.
According to Takhfifan CEO Nazanin Daneshvar, “There were ongoing negotiations between the two companies over the past three years. There were numerous sticking points, including the companies’ valuation and legal complexities.”
Reportedly, the new company will operate under Sarava that has invested in numerous Iranian startups, including Digikala and Cafe Bazaar.