DeClout unit looking to buy Netipay for $4.72m

DECLOUT Ltd's wholly owned subsidiary, Corous360, is looking to acquire the entire issued and paid-up share capital of Netipay Pte Ltd for a purchase consideration of approximately $4.72 million.

In a statement on Saturday, DeClout said that Netipay will eventually evolve into a mobile cloud platform and proprietary payment processing service provider comprising Indonesia-based PT Max Interactive Technologies (Maxitech) and Matrix Treasure Limited.

With the acquisition, Corous360 can provide a "full suite of payment channels ranging from SMS top-up to E-pins across feature phones and low-end smartphones", the company said.