Fintech firm Zaggle invests Rs 48 crore in Span Across IT Solutions and Mobileware Technologies, acquiring controlling and minority stakes respectively.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Sep 26 (PTI) Fintech firm Zaggle Prepaid Ocean Services Ltd on Thursday announced acquisition of stakes in two companies with a total investment of around Rs 48 crore.
The company has acquired a 98.32 per cent stake in Span Across IT Solutions and 26 per cent in Mobileware Technologies.
"Zaggle has infused Rs 32.07 crore for a 98.32 per cent controlling stake in Span Across IT Solutions Private Limited, consequent to which the company will become a subsidiary of Zaggle, following the completion of the procedural requirements. It has also acquired a significant minority stake in Mobileware Technologies Private by investing Rs 15.60 crore for a 26 per cent ownership stake on a post-issue and fully diluted basis, the company said in a statement.
Span Across IT Solutions specialises in providing digital solutions for tax and accounting services, helping businesses streamline their tax processes.
Mobileware focuses on digital payments ecosystem technologies.
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