Zaggle acquires stake worth Rs 48 cr in two companies

New Delhi, Sep 26 (PTI) Fintech firm Zaggle Prepaid Ocean Services Ltd on Thursday announced acquisition of stakes in two companies with a total investment of around Rs 48 crore.

The company has acquired a 98.32 per cent stake in Span Across IT Solutions and 26 per cent in Mobileware Technologies.

"Zaggle has infused Rs 32.07 crore for a 98.32 per cent controlling stake in Span Across IT Solutions Private Limited, consequent to which the company will become a subsidiary of Zaggle, following the completion of the procedural requirements. It has also acquired a significant minority stake in Mobileware Technologies Private by investing Rs 15.60 crore for a 26 per cent ownership stake on a post-issue and fully diluted basis,” the company said in a statement.

Span Across IT Solutions specialises in providing digital solutions for tax and accounting services, helping businesses streamline their tax processes.

Mobileware focuses on digital payments ecosystem technologies. PTI PRS PRS MR