Mumbai-headquartered digital payments company Billdesk will acquire the India payments business of French payments major Worldline valuing it at $70 million in equity terms.
In a statement, Worldline said it will enter into a long-term technology and software agreement with Billdesk, under which its existing software stack will continue to operate in India.
The enterprise value of the transaction has been pegged at $43.6 million.
The transaction comes four years after Billdesk’s proposed $4.7 billion sale to PayU collapsed, a deal that would have marked one of the largest fintech acquisitions in India.
Worldline said it will continue to operate its Global Capability Centres in India, which support the group’s western Europe operations.
The company expects the transaction to close in the second half of the current financial year.
Worldline’s India payments business includes the Ingenico operations, which it acquired in 2020. Ingenico had earlier bought Mumbai-based payment processor Techprocess for Rs 600 crore in 2017.
Founded in 2000, Billdesk is one of India’s largest bill payments processors, with a strong presence in government and utility payments. It reported operating revenue of Rs 2,446 croreand net profit of Rs 121 crore in FY24. Its FY25 financials are yet to be filed.
