Billdesk to acquire Worldline's India business valuing the firm at $70 million
Mumbai-headquartered digital payment processor Billdesk is set to acquire the India payments business of French payment giant Worldline for an estimated equity value of $70 million.
In a press release Worldline said that it will be entering into a long-term technology and software pact with Billdesk, through which Worldline’s software stack will continue to remain operational in India. At an enterprise level the value of the deal was pegged at $43.6 million.
Interestingly, this deal comes four years after Billdesk’s acquisition by digital payments major PayU fell through in 2022. At that time, PayU had planned to acquire Billdesk for $4.7 billion, marking one of the biggest fintech acquisition deals in India.
Additionally Worldline said that it will continue to operate the Global Capability Centres in India, which will be catering to the western Europe operations of the group.
Worldline said that it expects the deal to close only by the second half of the current financial year.
Interestingly Worldline’s India business includes Ingenico business as well, the company which it acquired back in 2020. Ingenico itself had acquired Mumbai-based payment processor Techprocess for Rs 600 crore back in 2017.
Billdesk, founded in 2000, is a major bill payment processor in the country, with a strong focus on the government’s digital payment requirements. The company had closed FY24 with operating revenue of Rs 2,446 crore and a net profit of Rs 121 crore. Its FY25 financials are yet to be filed.
In a press release Worldline said that it will be entering into a long-term technology and software pact with Billdesk, through which Worldline’s software stack will continue to remain operational in India. At an enterprise level the value of the deal was pegged at $43.6 million.
Interestingly, this deal comes four years after Billdesk’s acquisition by digital payments major PayU fell through in 2022. At that time, PayU had planned to acquire Billdesk for $4.7 billion, marking one of the biggest fintech acquisition deals in India.
Additionally Worldline said that it will continue to operate the Global Capability Centres in India, which will be catering to the western Europe operations of the group.
Worldline said that it expects the deal to close only by the second half of the current financial year.
Interestingly Worldline’s India business includes Ingenico business as well, the company which it acquired back in 2020. Ingenico itself had acquired Mumbai-based payment processor Techprocess for Rs 600 crore back in 2017.
Billdesk, founded in 2000, is a major bill payment processor in the country, with a strong focus on the government’s digital payment requirements. The company had closed FY24 with operating revenue of Rs 2,446 crore and a net profit of Rs 121 crore. Its FY25 financials are yet to be filed.
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