PayU to acquire Indian digital payments provider BillDesk for $4.7 bn
- Netherlands-based Prosus NV has announced to acquire the Indian digital payments provider BillDesk and merge it with its own fintech service business PayU. The size of the deal is $4.7 billion.
- This acquisition will make the combined entity of PayU and BillDesk as the leading online payment providers globally and in India by total payment volume (TPV).
- The transaction is subject to approval from the Competition Commission of India (CCI).
- This acquisition will also raise Prosus’s investement into India to $10 billion, which has so far invested $6 billion in the Indian tech ecosystem.
- Prosus NV is the global consumer internet group and one of the largest technology investors in the world.
Source: Business Standard
Points to Remember:
- BillDesk is being acquired by which company? PayU
- Total size of deal? $4.7 billion