VC investors to exit India's ItzCash to strategic
US-based software developer Ebix has agreed to buy a majority stake in Indian financial technology firm ItzCash, providing an exit for its VC backers including Lightspeed Venture, Matrix Partners and Intel Capital.
The deal will see Ebix acquire an 80% stake in ItzCash for $120 million in a joint venture with the company’s existing backer, the Indian conglomerate Essel Group, which will retain 20%. A sum of $76...
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