Actis portfolio company, Pine Labs, India’s leading merchant platform company, has signed a definitive agreement to acquire Bangalore-based gift card solutions provider, Qwikcilver, for USD 110 million, subject to closing conditions. The transaction has been funded from the company’s cash reserves and additional funding from existing investors. Actis is committing a further USD 30 million to the company increasing its total investment in Pine Labs to USD 90 million.

— Www.Act.Is

AZB & partners advised Actis Capital led by a team of partner Vaidhyanadhan Iyer, associate Sneha Nagvekar.

2019-04-03

Deal value: Up to USD 30 Million / INR 2.1 Billion

{incomplete}