Prosus Strikes Deal to Buy India’s BillDesk for $4.7 Billion (1)

Prosus NV has agreed to acquire Indian online payments service BillDesk for 345 billion rupees ($4.7 billion), making its largest global acquisition to date in the Asian nation.

The European investment powerhouse’s PayU unit has struck a deal to buy the 11-year-old startup, creating a digital payments giant with a total volume of $147 billion. It will take Prosus’s investment in India to more than $10 billion to date, the company said in a statement.

Prosus, whose biggest investment is Tencent Holdings Ltd., will be getting in on an Indian payments arena on the cusp of taking off. More ...