Billdesk to Buy Worldline India Arm in $70 Million Deal
A digital payments firm based in India, BillDesk, is poised to purchase the Indian operations of French payment major Wordline in a deal valued at around $70 million in equity.
In a statement, Worldline said that it would be entering a long-term technology and software pact with Billdesk, through which the French company’s software stack would continue to remain operational in India.
Worldline added that it would continue to operate its Global Capability Centres in India, catering to the western Europe operations of the group.
The deal comes four years after Billdesk’s proposed acquisition by digital payments major PayU fell through in 2022. At that time, PayU had planned to acquire Billdesk for $4.7 billion, in what would have been one of the biggest fintech acquisitions deals in India.
Worldline said that it expects the deal to close only by the second half of the current calendar year.
Also Read: Andhra CM to Catapult Amaravati as Top Quantum Computing Hub
The French company’s India business includes Ingenico, which it acquired in 2020. Ingenico itself had acquired Mumbai-based payment processor Techprocess for Rs 600 crore back in 2017.
Also Read: Easebuzz Elevates Parimal Kumar Shivendu to Board of Directors
Billdesk, founded in 2000, is one of India’s major bill payment processors, with a strong focus on the government’s digital payments requirements.
Also Read: Stripe Inc Eyes Acquiring PayPal as Payments Landscape Shifts
The company had closed FY24 with an operating revenue of Rs. 2.446 crore and a net profit of Rs 121 crore. Its FY25 financials are yet to be filed.