Jithin91
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Alibaba Group-backed Paytm has signed a non-exclusive term sheet to acquire rival FreeCharge, the digital payments platform owned and operated by beleaguered online marketplace Snapdeal, in what is expected to be an all-cash deal.
Paytm will begin financial and commercial due diligence of FreeCharge next week, ac cording to four people aware of the developments. If successful, the deal, estimated at between $45 million and $90 million, could be finalized in a month, said one of the sources.
For Snapdeal, selling its payments arm will provide much-needed relief to the troubled online marketplace.
http://tech.economictimes.indiatimes.com/news/startups/paytm-signs-deal-to-acquire-freecharge/58620351
Paytm will begin financial and commercial due diligence of FreeCharge next week, ac cording to four people aware of the developments. If successful, the deal, estimated at between $45 million and $90 million, could be finalized in a month, said one of the sources.
For Snapdeal, selling its payments arm will provide much-needed relief to the troubled online marketplace.
http://tech.economictimes.indiatimes.com/news/startups/paytm-signs-deal-to-acquire-freecharge/58620351
