PayU to Acquire Wibmo for $60 Million

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PayU which is a digital payment company is as of now in the final stages of discussions to acquire the Bangalore based Wibmo, which is having specialization in online payment processing.

If the deal gets closed, then it is estimated to be of around $50-$60 Million, and another acquisition of PayU.

Wibmo, which is backed by the Accel Partners, is having its specialization in multiple payment services which offers the 3D secure payment processing, for ensuring the safety of the digital transactions to mobile payments and merchant payments.

“Naspers has a huge appetite for investments in the fintech space, and this acquisition will complete the entire suite of payments offerings for PayU which otherwise is in the business of providing payment acceptance solutions for online merchants,” said one of the persons cited earlier.

“The deal is valued at around $60 million,” the person said.

Picture Credits: Twitter

Source: Techstory

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