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Pine Labs buys India gift card solutions provider Qwikcilver for US$110m

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Vivienne Tay

Vivienne Tay

Published Wed, Mar 20, 2019 · 09:50 PM

Singapore

TEMASEK-BACKED Pine Labs has acquired Indian gift card solutions provider, Qwikcilver, for US$110 million, subject to closing conditions.

The purchase was funded from the company's cash reserves and additional funding from existing investors, the point-of-sales solutions company, which is also India-based, said on Tuesday.

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