Zaggle buys 51% stake in Hyderabad-based billing software company EffiaSoft

Zaggle Prepaid Ocean Services Ltd has agreed to buy a 51% controlling stake in Hyderabad-based billing software company EffiaSoft for Rs 41.31 crore.

In a statement to the stock exchanges on Thursday, Zaggle said its board approved the purchase of a 45.33% stake for Rs 36.72 crore in cash from existing shareholders and founders. The board also decided to buy another 5.67% stake for Rs 4.59 crore, although the exact method of payment, whether cash or share swap, will be announced later.

The acquisition is expected to be completed within 90 days from the date of approval by the Board of Directors of the Company.

Transaction details and valuation  

The acquisition reportedly values EffiaSoft at about Rs 81 crore. EffiaSoft, which has around 220 employees, is expected to reach revenues of about Rs 27 crore this fiscal year.

According to Zaggle, EffiaSoft's turnover stood at about Rs 18.94 crore in fiscal year 2024 and reached Rs 24.67 crore as of March 15, 2025, based on provisional unaudited statements.

What does EffiaSoft do?

Effiasoft specializes in offering enterprise software solutions specifically designed for various industries. The company also provide point-of-sale (PoS) solutions, inventory management capabilities, customer loyalty features, in India and Southeast Asia through their flagship platform, JustBilling.

It claims to have a network of 300+ merchant partners.

Strategic moves by Zaggle  

With this acquisition, Zaggle can enhance its financial technology ecosystem by accelerating product development, improving operational efficiency, strengthening payment processing capabilities, increasing merchant engagement, and driving digital transformation in the fintech space.

It recently completed a strategic investment in Mobileware Technologies, acquiring a 38.34% stake for nearly Rs 23 crore. 

EffiaSoft’s deal is part of several acquisitions Zaggle has been eyeing since it raised around Rs 595 crore through a qualified institutional placement in late 2024.