Zaggle Prepaid Ocean Services Limited has announced its plan to acquire a 16.67% equity stake in Mobileware Technologies Private Limited, following the approval from its Board of Directors on February 7, 2025. The acquisition is aimed at enhancing Zaggle’s technological capabilities and expanding its footprint in the fintech ecosystem.
The company disclosed the development in a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, stating that the acquisition will be completed within 90 days from the date of the board’s approval.
No Immediate Payment Made by Zaggle
As per the filing, no payment has been made yet for the acquisition, and the process will be executed as per the agreed timeline. This acquisition marks a strategic step for Zaggle, aligning with its long-term growth plans by tapping into Mobileware’s expertise in digital solutions and payment infrastructure.
About Mobileware Technologies
Mobileware Technologies is a leading provider of digital banking and payment solutions, offering cutting-edge technology in the fintech space. With this acquisition, Zaggle aims to strengthen its portfolio of digital payment solutions and explore synergies between the two companies.
Investors will be closely watching the progress of this acquisition over the next few months as it could potentially unlock new growth opportunities for Zaggle in the fast-evolving fintech sector.
Image Courtesy: Zaggle.in