India, Feb. 25 -- Listed SaaS company Capillary Technologies yesterday announced that it has signed a definitive agreement to acquire Mastercard's customer loyalty and rewards business SessionM in an all-cash deal worth $20 Mn (Rs.181.8 Cr).

The company expects to close the deal within the next six months. As part of the transaction, a "specialised" team within SessionM will join Capillary to ensure continuity and "preservation" of expertise.

In a filing with the exchanges, Capillary Technologies said that the planned acquisition is part of its broader plan to strengthen presence in the North American and Latin American markets. Besides strengthening product stack, the SaaS major also sees the consolidated entity leveraging SessionM's c...