Billdesk to acquire Worldline’s India payments business in $70 million deal

Billdesk Set to Acquire Worldline's India Payments Business for $70 Million

Mumbai-headquartered digital payments company Billdesk is set to acquire the India payments business of French payment giant Worldline in a deal valued at $70 million in equity terms.

• The deal comes after Worldline said it will enter into a long-term technology and software agreement with Billdesk, under which its existing software stack will continue to operate in India.
• The enterprise value of the transaction has been pegged at $43.6 million.

The transaction marks a significant development in the Indian fintech space, following four years after Billdesk's proposed $4.7 billion sale to PayU collapsed.

Worldline's India payments business includes the Ingenico operations, which it acquired in 2020, and the Mumbai-based payment processor Techprocess, which Ingenico bought in 2017 for Rs 600 crore.

About Billdesk

• Founded in 2000, Billdesk is one of India's largest bill payments processors, with a strong presence in government and utility payments.
• The company reported operating revenue of Rs 2,446 crore and net profit of Rs 121 crore in FY24.

Worldline said it will continue to operate its Global Capability Centres in India, which support the group's western Europe operations.

The company expects the transaction to close in the second half of the current financial year.

Key Takeaways

• Billdesk to acquire Worldline's India payments business for $70 million in equity terms.
• Long-term technology and software agreement to be signed between Billdesk and Worldline.
• Enterprise value of the transaction valued at $43.6 million.