Digital payments company PayU is in final stages of discussions to acquire Bengaluru and Cupertino-based Wibmo that specialises in processing online payments, three people in the know of the matter said.
If the deal, estimated at $50-60 million, goes through, it will be another wager by PayU that has earmarked more than $1 billion to deploy in India, as it bulks up its portfolio here inorganically.
Wibmo, backed by early-stage venture fund Accel Partners, specialises in multiple payment service offerings, including 3D secure, for ensuring the safety of digital transactions to mobile payments and merchant payments. Wibmo was formerly known as Enstage.
The Naspers-owned PayU will get to own the entire payment process through this acquisition, the sources said.
