PosterGully acquired by ABEC promoters

New Delhi, Aug 18 (IANS) Sumit Gandhi and Manish Gandhi, promoters of Asian Business Exhibitions and Conferences (ABEC), on Thursday announced the acquisition of Delhi-based managed marketplace PosterGully in their individual capacity, a stakeholders' statement said here.

The size of the transaction has not been disclosed.

"With this acquisition, we are committed to a digital first approach across all our businesses," Manish Gandhi said announcing the acquisition.

Founded by Bharat Sethi, PosterGully enables artists and designers to seamlessly contribute and merchandise designs in a variety of products, such as home decor, furnishings, apparels and technology accessories to consumers globally.