Prosus to acquire India’s BillDesk for US$4.7 billionONLINE SERVICE: The European firm’s PayU unit has struck a deal to buy the Indian start-up, creating a digital payment giant with a total volume of US$147 billionBloombergProsus NV has agreed to acquire Indian online payment service BillDesk for 345 billion rupees (US$4.7 billion), making its largest global acquisition to date in the Asian nation. The European investment powerhouse’s PayU unit has struck a deal to buy the 11-year-old start-up, creating a digital payment giant with a total volume of US$147 billion. It would take Prosus’ investment in India to more than US$10 billion to date, the company said in a statement. Prosus, whose biggest investment is Tencent Holdings Ltd (騰訊), would be getting in on an Indian payment arena on the cusp of taking off. Its PayU unit grew total payment volume 51 percent in the year ended March to US$55 billion, Prosus said.

Source: Taipei Times August 31, 2021 15:56 UTC