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PayU In Talks To Acquire BillDesk In What Could Be The Second-Largest Internet Deal In India After Walmart-Flipkart
Source: Official Website
India may soon witness its second-largest acquisition deal in the fast-growing internet-based solutions with Naspers-backed PayU likely to acquire payments gateway major BillDesk, reports Moneycontrol.
BillDesk provides a single versatile, scalable payments platform for enterprise-wide electronic payments and collections, related reconciliation and settlement operations, across multiple delivery channels and using a wide range of payment methods.
PayU is one of the multiple suiters who are said to be in the race to acquire BillDesk in a transaction that could take place at a premium valuation of as much as $3.5-4.5 billion. Though nothing has been finalised as of yet.
The acquisition of BillDesk at such valuations would provide a handsome exit to the founders as well as to the existing private equity investors Temasek and General Atlantic.
Meanwhile, the largest such deal so far remains United States (US)-based Walmart's $16 billion acquisition of Flipkart's majority shareholding. Flipkart was founded by Sachin Bansal and Binny Bansal who no longer remain a part of the company's active management.
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