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).
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
About the deal:
- The transaction is subject to approval from the Competition Commission of India (CCI).
- This acquisition will also raise Prosus’s investment 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.
Important takeaways for all competitive exams:
- PayU CEO: Laurent le Moal;
- PayU Founded: 2006;
- BillDesk Founder(s): M.N. Srinivasu; Ajay Kaushal; Karthik Ganapathy;
- BillDesk Headquarters: Mumbai;
- BillDesk Founded: 29 March 2000.
ODI World Cup winners full list (1975-20...
Top-10 Tea Producing Countries in the Wo...
Kristalina Georgieva Re-appointed as IMF...
