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.

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