Zaggle on M&A spree, acquires one firm, invests in another
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Zaggle on M&A spree, acquires one firm, invests in another

By Ajay Ramanathan

  • 26 Sep 2024
Zaggle on M&A spree, acquires one firm, invests in another
Avinash Ramesh Godkhindi, chief executive officer and managing director, Zaggle

Software as a service firm Zaggle Prepaid Ocean Services Thursday said it has acquired a 98.3% stake in Span Across IT Solutions for around Rs 32 crore to help enter new segment of employee-related business. 

The acquisition is expected to be completed within 45 days after which the information technology services company will become a subsidiary of Zaggle.   

Span Across clocked a turnover of Rs. 4.7 crore for the financial year ended March 2024, higher than the Rs 3.9 crore in FY23 and Rs 3.1 crore in FY22. 

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Separately, the company’s board has also approved the investment of Rs 15.6 crore for a 26% ownership capital of digital payments infrastructure company Mobileware Technologies.  

The Mumbai-based company offers an integrated product suite of National Payments Corporation of India-certified switch solutions across unified payments interface, immediate payments service, Aadhar-enabled payments and Bharat Bill Payment System(BBPS).  

Mobileware has clocked a turnover of nearly Rs 17 crore in 2023-24, higher than the Rs 11 crore a year ago. 

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