Surpluss.in parent buys Thai electronics company Abaj

AbajNew Delhi-based logistics company TAM International Pvt Ltd, has acquired Thailand-based firm electronics firm Abaj World with itself, according to a press release. The financial details of the deal were remained undisclosed which was a mix of cash and equity. Nirav Patel, founder & promoter of Abaj Electronics, will join the board of TAM but it is yet to decide whether he will be based in firm’s India or Thailand office. “Becoming part of TAM International represents an exciting new chapter for Abaj, which will help accelerate our time-to-market in unserved geographies and expand the ways we can innovate for customers. Being part of a larger, ecommerce organization will help us deliver the best possible experience to our customers, while maximising value for our shareholder,” said Patel. As part of the deal, Abaj will merge its entire operations into TAM International and Patel will drive the technology and sourcing of specific products for Surpluss.in and Bizpluss.in, the brands run by TAM. Founded by Nirav Patel, Abaj provides a range of HD Televisions. Patel belongs to a builders family in Gujarat. He has an extensive experience in finance and retail. “Acquiring Abaj Electronics allows TAM International to offer a broader range of services to our wide customer base, increase customer engagement and enter an important and growing adjacent marketplace. Abaj’s presence in international market – will help us accelerate our expansion,” said Tarun Bhardwaj, executive director, Surpluss.in. TAM International owns reverse logistics e-commerce sites Surpluss.in and Bizpluss.in. Surpluss is an online retailer selling refurbished and unboxed products. Last month, it partnered with Amazon to sell refurbished smartphones of Samsung and Xiaomi through it’s marketplace. Bizpluss which started its operations in January this year, is an e-service platform which puts the distribution and retail business on cloud. The startup helps manufactures to sell directly to the distributors, dealers and corporates.