Snapdeal pays up for a Freecharge!

E-Commerce company Snapdeal has bought another e-commerce company Freecharge for an undisclosed sum, the company announced. 

More details on the deal are awaited but industry talks suggest that Snapdeal has paid anything between $400-$500 million for the deal. 

Earlier this year, Snapdeal had said that the company has set aside $1 billion for 5-6 acquisitions this year. 

The company is expanding rapidly in India and said that with this deal, Snapdeal has become India's largest mobile-commerce company. 

.@FreeCharge Hey, psst I have something for you.

— Snapdeal.com (@snapdeal) April 8, 2015

@snapdeal Umm...what?

— FreeCharge (@FreeCharge) April 8, 2015

.@FreeCharge So will you recharge my life? :D pic.twitter.com/aNaUKss5uW

— Snapdeal.com (@snapdeal) April 8, 2015

.@snapdeal Dear god!! I will, I will. it's a deal :)

— FreeCharge (@FreeCharge) April 8, 2015

Welcoming @FreeCharge rockstars to @Snapdeal family! Now India's largest m-commerce company! @rohitkbansal @kunalb11 pic.twitter.com/OsfQQizXXz

— Kunal Bahl (@1kunalbahl) April 8, 2015