Billdesk is close to acquiring the India business of French payments giant Worldline, while upGrad has bought a 90% stake in Internshala through a stock deal.
BillDesk to buy Worldline’s India arm for $70m
BillDesk, a digital payments processor headquartered in Mumbai, is close to acquiring the India business of French payments giant Worldline, per an announcement.
The deal size is estimated to be $70 million.
Worldline’s India operations include Ingenico, which it purchased in 2020. Prior to that, Ingenico had acquired Mumbai-based payment processor Techprocess in 2017 for Rs 600 crore.
Established in 2000, BillDesk has built itself as one of the major bill payment processors in the country. Its operating revenue in FY24 stood at Rs 2,446 crore, while its net profit was Rs 121 crore.
Edtech firm upGrad acquires Internshala
Ronnie Screwvala-led upGrad has bought a 90% stake in Internshala through a stock deal, pegging the valuation of the latter at around Rs 100 crore, The Economic Times stated in a report.
UpGrad’s takeover of Internshala, reportedly structured as a 90% stock swap, comes just a month after its high-level talks to buy Unacademy for $300-400 million fell through due to disagreements over valuation.
Temasek-backed upGrad, an edtech unicorn in India, provides online higher education courses for working professionals. Its programmes include digital marketing, entrepreneurship, and data-driven management, among other things.
