Snapdeal has acquired online sports goods retailer - esportsbuy.com. The terms of the transaction were not disclosed, however the dealsize is expected to be in the range of R50-75Cr.

This acquisition will help the ecommerce portal to expand in the arena of sports retailing.

Esportsbuy.com was founded by Amit Monga and Prateek Agarwal in 2011 and has posted revenues of about R10Cr in one year of operations.

Snapdeal, founded in 2010 by Kunal Bahl and Rohit Bansal operates across 50 cities in India retailing 10,000 brands, averaging at 1.5 Mn new members per month.

In June 2010, it bought Bangalore based group buying site Grabbon.com for an undisclosed amount. To fund the latest acquisition , Snapdeal used a part of the R200Cr it raised last year from Bessemer, Nexus and Indo-US Venture Partners in a transaction that valued the company at R1,000Cr. Before the latest round of funding,Snapdeal had managed to raise $12 Mn from Nexus and IndoUS Venture Partners in January'11.

It also has operations in 5 countries - Sri Lanka, Nepal, Bangladesh, Maldives and Singapore and plans to acquire companies in Asia-Pacific region.

Snapdeal competes with Flipkart in the Indian Ecommerce space. Flipkart has been agressively expanding it's presence through acquisitions. Last month, Flipkart acquired Letsbuy.com. In Octber last year, it acquired Mumbai based Mime360, a digital content platform founded by Sameer Nigam and Rahul Chari, while in Dec 2010, Flipkart acquired social book discovery tool weRead.com from Lulu Enterprises, Inc, a US-based on-demand publishing firm.

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