Zaggle Prepaid Ocean Services Acquires Stakes In Two Companies For Rs 48 Crore

Fintech firm Zaggle Prepaid Ocean Services Ltd on Thursday announced acquisition of stakes in two companies with a total investment of around Rs 48 crore. The company has acquired a 98.32% stake in Span Across IT Solutions and 26% in Mobileware Technologies.

"Zaggle has infused Rs 32.07 crore for a 98.32% controlling stake in Span Across IT Solutions Pvt. Ltd., consequent to which the company will become a subsidiary of Zaggle, following the completion of the procedural requirements. It has also acquired a significant minority stake in Mobileware Technologies Private by investing Rs 15.60 crore for a 26% ownership stake on a post-issue and fully diluted basis,” the company said in a statement.

Span Across IT Solutions specialises in providing digital solutions for tax and accounting services, helping businesses streamline their tax processes.

Mobileware focuses on digital payments ecosystem technologies.