Dutch technology investment firm Prosus is closing a US$4.7 billion deal to acquire Indian payment firm BillDesk, which Prosus will combine with its FinTech PayU, also in India.
The transaction is subject to approval from the Competition Commission of India, and follows PayU’s previous acquisition of CitrusPay, Paysense, and Wibmo, Prosus stated in a press release emailed to PYMNTS on Tuesday, August 31.
See also: India’s Billing Processor BillDesk Looks For Buyers
“We have a long and deep relationship with India, having supported and partnered with some of its most dynamic entrepreneurs and new tech businesses since 2005,” Prosus Group CEO Bob van Dijk said, adding that the company has already invested almost US$6 billion in Indian tech.
“BillDesk exemplifies the ambition and expertise of Indian entrepreneurs, who are among the best in the world, with exceptional abilities to build products and services and understand scale and value. This is critical in a country as vast as India,” van Dijk said.
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