by Amsterdam, Netherlands – Prosus, a global technology investor, has announced that it has agreed to sell PayU’s global payments organization to Rapyd, a global payments infrastructure company. The deal is expected to close in the second half of 2023.
Under the terms of the deal, Rapyd will acquire PayU’s global payments organization, which includes its processing, acquiring, and merchant solutions. The deal will also include PayU’s Brazil, Mexico, and Southeast Asia businesses.
Prosus said that the sale of PayU’s global payments organization is part of its strategy to focus on the thriving Indian market. The company said that it will continue to invest in PayU India, which is one of the leading digital payments companies in the country.
“We are excited to partner with Rapyd to accelerate our growth in the global payments market,” said Bob van Dijk, CEO of Prosus. “Rapyd is a leading payments infrastructure company with a strong track record of innovation. Together, we will be able to offer our customers a more comprehensive and integrated payments solution.”
“We are delighted to welcome PayU’s global payments organization to the Rapyd family,” said Arik Shtilman, CEO of Rapyd. “This acquisition will allow us to accelerate our growth and expand our reach into new markets. We are excited to work with Prosus to build the leading global payments infrastructure company.”
The sale of PayU’s global payments organization is a significant development in the global payments market. The deal will allow Rapyd to expand its reach into new markets and become a more comprehensive payments provider. The deal will also allow Prosus to focus on its core business in India.
Key takeaways from the story:
- Prosus has agreed to sell PayU’s global payments organization to Rapyd.
- The deal is expected to close in the second half of 2023.
- The deal will allow Rapyd to expand its reach into new markets and become a more comprehensive payments provider.
- The deal will also allow Prosus to focus on its core business in India.
Implications of the story:
The sale of PayU’s global payments organization is a significant development in the global payments market. The deal will allow Rapyd to expand its reach into new markets and become a more comprehensive payments provider. The deal will also allow Prosus to focus on its core business in India.
The deal is likely to have a number of implications for the global payments market. It is likely to lead to increased competition in the market, as Rapyd will become a more formidable competitor. It is also likely to lead to innovation in the market, as Rapyd and Prosus will be looking to develop new and innovative payment solutions.
The deal is also likely to have a number of implications for India. It is likely to lead to increased investment in the Indian payments market, as Rapyd and Prosus will be looking to expand their operations in the country. It is also likely to lead to the development of new payment solutions that are tailored to the Indian market.
