Zaggle Prepaid Ocean Services Ltd has announced that its Board has approved the acquisition of a 51% stake in Effiasoft Private Limited, a Hyderabad-based IT solutions company, for a total consideration of Rs 41.31 crore.
The investment will be executed in two parts:
- 45.33% stake for Rs 36.72 crore via cash consideration
- 5.67% stake for Rs 4.59 crore, with the mode of acquisition (cash/share swap) to be decided later
The deal is expected to close within 90 days, and is not classified as a related party transaction.
About Effiasoft:
- Incorporated: November 8, 2012
- Business: Specializes in enterprise software, POS solutions, inventory management, and customer loyalty systems
- Flagship Product: JustBilling
- Presence: India and Southeast Asia
- FY24 Turnover: Rs 18.94 crore
- FY25 (provisional as of March 15): Rs 24.67 crore
Zaggle stated that the acquisition will enhance its fintech ecosystem, boost product development, improve merchant integrations, and accelerate digital transformation efforts in the payments space.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Corporate transactions are subject to regulatory approvals and business risks. Always consult a financial advisor before making investment decisions.
