Zaggle Prepaid Ocean Services Limited has informed the Exchange about Update on acquisition of Dice Enterprises Private Limited
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Zaggle Prepaid Ocean Services Limited has modified the structure of its planned acquisition of Dice Enterprises Private Limited. Instead of acquiring the entire shareholding, the company will now purchase specific assets including Software, Databases, Contracts, Intellectual Property, and Domain Names related to Spend Management for approximately Rs. 67.9 Crores plus applicable taxes. Dice is a spend management platform with operations only in India, having grown its turnover from Rs. 3.87 Crores in FY 2022-23 to Rs. 10.85 Crores in FY 2024-25. The transaction is not a related party transaction and will be completed in cash within 120 days from board approval, subject to closing actions in the Asset Purchase Agreements.
This acquisition expands Zaggle's AI-enabled product offerings and customer base in the spend management space, with potential for both Indian market expansion and global opportunities. The shift from share acquisition to asset purchase reduces integration complexity while achieving strategic objectives.