Singapore-based ecommerce enabler Shopmatic has reportedly acquired a majority stake in Taiwan-based technology consulting firm, 5X Ruby. The move on Shopmatic\u2019s part is aimed at strengthening its research and technology team, as per a report by ET.\r\n\r\nAs per an official statement, Shopmatic has acquired 51% stake in 5X Ruby for an undisclosed amount in a mixed cash-and-stock deal. The latter\u2019s valuation has not been disclosed.\r\n\r\nCommenting on the development, Anurag Avula, co-founder, Shopmatic said, \u201cWe plan on developing value-added services for our customers including inventory management service, integrate payments on the platform, aggregation and taxation. For these services we will be using the technology from 5X Ruby. Some of the 20-member team of the company will be working with Shopmatic\u2019s lab to design these solutions.\u201d\r\n\r\nShopmatic was incorporated in December 2014 by Anurag Avula, Yen Lim and Kris Chen. It is an international ecommerce platform, launched with the intent of helping anyone wishing to sell online. It aims to help merchants and individuals manage everything that is required for them to grow their business in the virtual world.\r\n\r\nThe company assists by managing\/helping merchants to develop their own unique web-store, listing them on marketplaces and social channels to aiding them with insights on how to sell online.\r\n\r\nAccording to the same report, 85-90% of Shopmatic\u2019s business comes from from India. With the acquisition, the platform is looking to enter new markets by early 2017 and strengthen its presence in other South Asian markets in Japan and others.\r\n\r\nIn 2015, Shopmatic launched its operations in India and earlier last month, it launched a mobile app, Go for Indian sellers. The app enables everyone to take their business online by providing them with an easy tool to create an ecommerce website in less than two minutes with three easy steps.\r\n\r\nOther Indian companies like Martjack and Buildabazaar are providing similar services in bits and pieces. Besides, there are also end-to-end ecommerce enablers like Zepo and KartRocket, that are directly competing with Shopmatic.