With this acquisition, Taskbob will mark its entry in Bangalore market.
Unlike other acquisitions in the market, this is a merger of ‘Assets Deal’, in which the acquiring company will absorb all the assets of the target company that the target ceases to exists.
Here, Taskbob gets the right to pick and choose between what they want to buy and what to leave behind in bad assets and liabilities. WIth this, Zepper will shut down its operations post acquisition.
Zepper was started in 2014 by Danish Arif, Akash Goel and Zia Arif. Presently, they have around 300 servicemen and 2,500 customers.
Confirming the news to Inc42, Aseem Khare, Taskbob’s founder and CEO said, “We are acquiring Zepper, but the terms of the deals are yet to be disclosed.”