Boku, a mobile online payments company, has purchased all the shares of the direct carrier billing service Qubecell in India, for an undisclosed amount.
Through this acquisition, Boku will now be provided with direct carrier billing connections with four of the major carrier networks in India along with a number of key local merchant relationships.
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The acquisition will also enable Boku’s carrier billing technology to reach more than 75% of the country’s mobile subscribers, which is roughly about 550 million users.
According to Boku, its merchant partners will be offered with direct access to the growing market of online consumers in India.
Commenting on the acquisition, Boku chief business officer, Jon Prideaux, said: "Our plan is to leverage the resources built by Qubecell to create a regional hub for our company’s global operation that will provide support for our merchant and carrier customers across Asia, the Middle East, and Australia while helping to continue our expansion into the emerging markets."
Post acquisition, all the employees of Qubecell will join the existing Boku organisation along with its founder and CEO, Ranjan Reddy, as part of the leadership team in Asia.
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