M&A Deal Summary

PayU Payments Pvt. Acquires Citrus Payment Solutions

On September 14, 2016, PayU Payments Pvt. acquired internet software and services company Citrus Payment Solutions from Ascent Capital

Acquisition Highlights
  • This is PayU Payments Pvt.’s 1st transaction in the Internet Software and Services sector.
  • This is PayU Payments Pvt.’s 1st transaction in India.

M&A Deal Summary

Date 2016-09-14
Target Citrus Payment Solutions
Sector Internet Software and Services
Buyer(s) PayU Payments Pvt.
Sellers(s) Ascent Capital
Deal Type Add-on Acquisition

Target

Citrus Payment Solutions

Mumbai, India
Citrus Payment Solutions is a provider of online payment solutions. Citrus Payment Solutions was founded in 2011 and is based in Mumbai, India.

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Buyer(S) 1

Buyer

PayU Payments Pvt.

Gurugram, India

Category Company
Founded 2006
Sector Internet Software and Services
DESCRIPTION

PayU Payments Pvt. Ltd. is a technology and data science company building new age financial products for Indian consumers. PayU Payments Pvt. Ltd. was founded in 2006 and is based in Gurugram, India.


DEAL STATS #
Overall 1 of 2
Sector: Internet Software and Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 2
Country: India M&A 1 of 1
Year: 2016 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-23 ZOOZ Mobile

Ra'anana, Israel

ZOOZ Mobile Ltd. is a payments technology company that provides an open payments platform designed for merchants to connect to multiple payment providers, consolidate and harmonize their payments data, analyze it and make smarter data-based decisions. ZOOZ Mobile Ltd. was founded in 2010 and is based in Ra'anana, Israel.

Buy -

Seller(S) 1

SELLER

Ascent Capital

Bangalore, India

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 392M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ascent Capital is a private equity firm focused on growth capital investments in promising Indian companies driven by 'visionary leadership'. In addition to providing growth financing, Ascent also helps young companies attract senior management talent and maintain high standards of corporate governance in preparation for an exit. Ascent invests in the range of $10 - $30 million per transaction. Ascent prefers investing in sectors that leverage India's outsourcing strengths, benefit form the country's infrastructure boom, and address a growing consumer market. Ascent Capital was formed in 2000 and is based in Bangalore.


DEAL STATS #
Overall 5 of 10
Sector: Internet Software and Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 3
Country: India M&A 5 of 10
Year: 2016 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-19 RBL Bank

Mumbai, India

RBL Bank operates as a scheduled commercial bank. It is continuously expanding its presence across India through a growing network of branches and ATMs. RBL Bank was established in 1943 and is based in Mumbai, Maharashtra.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-29 People Combine Avenues

Hyderabad, India

People Combine Avenues (PCAL) is a Hyderabad based company, which runs one of the largest schools in India, offering International Baccalaureate (IB) curriculum Oakridge International School, in Hyderabad. The Company and its associate societies run and manage eight K-12 institutions in Vishakhapatnam and Hyderabad, including, Oakridge I & Oakridge II in Hyderabad and Vikas Schools & Junior College, Nalanda Talent School, Westwood International in Vishakhapatnam and Westwood International in Tenali. People Combine Avenues was founded in 1993 and is based in Hyderabad, India.

Sell -