It has done so in an all-cash deal. CEO Nitin Gupta would be stepping down from his role as CEO and pursue another venture. Citrus Pay’s managing director Amrish Rau would take over the reins of the combined entity as CEO. Citrus’s other co-founder, Jitendra Gupta, and PayU’s Shailaz Nag would be taking leadership positions in the company.

Naspers-backed PayU acquires payments company Citrus Pay for $130 mn

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