Zaggle Prepaid Ocean Services has announced its decision to modify its acquisition strategy concerning Dice Enterprises Private Limited. Instead of acquiring the entire shareholding of Dice, Zaggle will purchase specific assets from the company for approximately ₹67.9 crore, plus applicable taxes.
The assets to be acquired include software, databases, codebase, contracts, intellectual property, domain names, and other related assets in the spend management space. This strategic move is aimed at expanding Zaggle’s AI-enabled product offerings and gaining access to Dice’s existing customer base, thereby enhancing its market presence both in India and globally.
Dice Enterprises, a spend management platform, reported a turnover of ₹10.85 crore for the financial year 2024-25. The company specialises in travel and expense management, accounts payable management, and procurement management solutions. Incorporated on January 12, 2018, Dice has shown consistent growth over the past three years, with turnovers of ₹3.87 crore in FY 2022-23 and ₹6.32 crore in FY 2023-24.
The acquisition will be executed in cash and does not involve any share acquisition. The transaction is expected to be completed within 120 days from the board’s approval, subject to the fulfilment of closing actions as outlined in the Asset Purchase Agreement and other related agreements.
This acquisition does not constitute a related party transaction, and neither the promoter group nor any group companies have an interest in Dice Enterprises.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).