[ad_1]
(Relation with PayU statement on Acquisition)
TEL AVIV, July 23 (Reuters) – Online payment company PayU, a subsidiary of Naspers, said on Monday high-growth markets.
PayU's statement, which confirmed an earlier report by Calcalist, did not disclose the size of the acquisition but said its total investments and acquisitions in financial technology to more than $ 350 million since 2016.
A source with knowledge of the deal told Reuters it was valued at around $ 80- $ 100 million.
Netherlands-headquartered United Kingdom, Central and Eastern Europe, Latin America, the Middle East and Africa.
Zooz and PayU will work together to create a payments infrastructure.
Zooz connects merchants to multiple banks and by badyzing various parameters that determine which bank to the payment transaction, to find the bank with the lowest fee.
As part of the deal, Zooz's co-founder and CEO Oren Levy and Chief Technology Officer Ronen Morecki will become part of PayU's global leadership team, focusing on tech and business development. Zooz's 70 workers will also become part of PayU.
Following completion of the deal, Zooz will be owned by Naspers, an Internet and entertainment group. (Reporting by Tova Cohen Editing by Steven Scheer and Kirsten Donovan)
Source link
