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).

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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.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.