PayU Acquires Wibmo For USD 70 mn

PayU, Digital payments security and payment facilitator has acquired Wibmo, a US-based financial technology firm for USD 70 million (about Rs 484 crore) to assist the company scale-up its business.

Under the agreement, PayU and Wibmo businesses will continue to run separately. Wibmo will continue to operate and serve all of its clients as a wholly-owned subsidiary of PayU.

Source: Business Today

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