Zaggle To Pick Up Additional 17% Stake In Mobile Technologies

Zaggle’s board has approved the acquisition of an additional 16.67% stake in the digital payments service provider Mobileware Technologies

The financial terms of the deal remain undisclosed

The deal is expected to complete within the period of 90 days from the date of approval by the Zaggle’s board

Listed fintech SaaS company Zaggle’s board has approved the acquisition of an additional 16.67% stake in digital payments service provider Mobileware Technologies Private Limited in a cash deal.

However, the company did not disclose the financial terms of the deal.

“Consequent to this proposed acquisition, Zaggle shall acquire the equity shares equivalent to 16.67% of issued and paid up capital of Mobileware,” the company said in a regulatory filing.

The deal is expected to complete within the period of 90 days from the date of approval by the Zaggle’s board, the filing also said.

(The story will be updated soon)