M&A

M&A

Zaggle to acquire majority stake in PoS software firm Effiasoft for Rs 36.7-Cr

BSE Announcement   Economic Times  

Listed prepaid payments company Zaggle has acquired a 45.3% stake in point of sales (PoS) software company Effiasoft for INR 36.7 crore. Additionally, the Hyderabad-based payments firm will increase its shareholding in the target company by another 5.6% through either cash or share swap.Zaggle, which offers corporate payment solutions to employees, will strengthen its merchant services and payment processing capabilities, overall strengthening its play in the fintech ecosystem, through the acquisition.Hyderabad-based Effiasoft offers payment services, inventory management and billing services to merchants in India and Southeast Asia through their platform Justbilling. As of March 15, 2025, Effiasoft achieved a turnover of INR 24.6 crore. The company had closed FY24 with a total turnover of INR 18.9 crore and FY23 with INR 13.4 crore.