“Online payment service PayU has acquired California-based financial technology company Wibmo for $70 million (Rs 483 crore). PayU, which is the fintech arm of South Africa’s Naspers would combine its merchant network and Wibmo’s digital transaction security solutions to offer payments solutions to merchants and financial institutions in India and other high growth markets,” reported Business Standard.

Link Legal India Law Services advised Wibmo Inc’s Indian subsidiaries led by a team of partner K Venkat Satyanarayana, associate partner Apurbalal Mallik, senior associate Hari Priya, associate Shivam Anand, associate Lipika Ahuja.

J Sagar Associates (JSA) advised PayU Global BV led by a team of partners Sidharrth Shankar, Rupinder Malik, Rajul Bohra, Shantanu Jindel, senior associate Shweta Gupta, and associates Srishti Moitra, Priyal Shailendra Somvanshi, Aman Bhatia and Sriram SL.

Gunderson Dettmer acted for PayU Global.

2019-04-13

Deal value: US$ 70 million

{incomplete}