India, March 28 -- Fintech SaaS company Zaggle plans to acquire a 45.33% stake in point of sale (PoS) software solutions provider Effiasoft for INR 36.72 Cr in an all-cash deal.

In an exchange filing, Zaggle said it received the approval from its board to acquire the stake from Effiasoft cofounders Koushik Shee and Akula Krishna Rao.

". This is to inform you that the meeting of the board of directors of Zaggle Prepaid Ocean Services Limited (company). has, inter alia, approved the acquisition of 45.33% stake in. Effiasoft., from Mr. Koushik Shee and Mr. Akula Krishna Rao, existing shareholders, for consideration of INR 36.72 Cr," the filing said.

Besides, the company's board also approved a proposal to acquire an additional 5.67% stake...