Categories: Business

PayU acquires 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).

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.

Find More Business News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Leave a Comment
Share
Published by
Sumit Arora
4 years ago

Recent Posts

Which Animal is known as the Night Walker? Know the Name

Did you know some animals sleep through the bright day and come alive only after…

6 hours ago

Winter Olympics 2026 (Milano–Cortina): Complete Schedule, Events, and Key Details

The Winter Olympics 2026 are one of the most important global sporting events of the…

7 hours ago

Cricket World Cup Winners List (1975-2026) Year Wise

As you know the ODI Cricket World Cup 2024 is concluded on 19th November 2023…

7 hours ago

Which Palace is known as the Palace of Winds?

Did you know there is a famous palace in India that seems to breathe with…

7 hours ago

Which is the Highest Dam in India? Know the Name and Its Location

Did you know India is home to some of the tallest and most powerful dams…

10 hours ago

Indian Railways Launches First LNG–Diesel Dual-Fuel DEMU Train in Ahmedabad

Indian Railways has achieved an important milestone by launching the country’s first LNG–Diesel dual-fuel DEMU…

10 hours ago