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PayTM may acquire UCWeb browser



The Indian mobile payment processing giant PayTM is in talks to acquire UCWeb, the Alibaba-owned web browser, a report by ET stated. UCWeb has emerged as a leader in the Indian marketplace leaving behind Google Chrome last year and accounting for 51 percent of the market share.

The transaction could be valued at $400-500 million, the ET report further added.

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PayTM CFO Madhur Deora is leading the discussion with the top executives of UCWeb to execute the deal. UCWeb has strengthened its position in the Indian marketplace with a user base of 130 million.

The firm was in talks with other smartphone manufacturers and other local businesses in India earlier, however, those discussions have come to a halt, it appears.

SoftBank has backed PayTM’s initiative saying the merger has the ability to acquire new user from smaller cities through browser-based marketing.

“A browser is a gateway for most new internet users and Paytm is looking to tap into that opportunity via UCWeb.

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All top internet companies are looking to tap into new users to expand the overall customer base,” said a person aware of the discourse.

UC browser also has a strong presence in Vietnam, Indonesia, Russia, and in their home ground China. Therefore, it is evident that with this merger, PayTM visions to penetrate the international market as well.

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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.

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