Hyderabad, March 27 -- Zaggle Prepaid Ocean Services Limited, a leading spend management company, has acquired a 38.34 per cent stake in Mobileware Technologies, strengthening its position in the digital payments ecosystem.
As part of the deal, Zaggle invested Rs 15.60 crore to acquire a 26 per cent stake on a post-issue and fully diluted basis. Additionally, the company purchased a 12.34 per cent stake from Mobileware's promoters for Rs 7.25 crore, bringing its total shareholding to 38.34 per cent, a company statement said on Thursday.
Mobileware Technologies is a key player in India's digital payments sector, providing solutions such as UPI, IMPS, AEPS, BBPS, and the API banking platform TransXT. The partnership will enable Zaggle to en...