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Online Payments

Naspers likely to acquire Citrus Pay for USD 150 mln

Monday 8 August 2016 | 12:19 PM CET

Naspers is expected to acquire Citrus Pay, an online payment gateway solutions provider, for around USD 150-180 million.

The deal, which is expected to close by the end of August or September 2016, will provide an exit to the fintech company's current investors, which include Sequoia Capital, Ascent Capital among others, according to The Economic Times, ibtimes.co.in reports.

Citrus Pay will be absorbed by Pay U, owned by Naspers, that could inject around USD 30-40 million into Citrus Pay after the acquisition.

Citrus Pay had won its largest investment of USD 25 million in a Series C funding round from Ascent Capital and Sequoia Capital in October 2015.

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