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PhonePe set to acquire Indus OS for $60 mn
May 20, 2021
PhonePe is all set to acquire home-grown platform Indus OS, said three individuals mindful of the details of the transactions. This would be the second acquisition by the Bengaluru-based organization since its commencement. In July 2018, it gained Zopper Retail.
“PhonePe and Indus OS have marked the details of the deal two weeks ago,” said one requesting anonymity. “The exchange is a money bargain worth $60 million.”
As per sources, the procurement would support PhonePe’s Switch that totals different applications under its own application. It’s a sort of super application that empowers PhonePe clients to book taxis, lodgings and request goods and food things alongside numerous other use cases.
“Post-acquisition, group Indus OS will initiate Switch and building an application environment for PhonePe,” said the second person who likewise wished not to be named.
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