NTT DATA has agreed to buy a majority stake in Atom Technologies.
Atom Technologies is an Indian payments firm owned by 63 moons technologies.
Atom, founded in 2005, has 25 branches across India and employs over 250 people. It offers a multi-channel payments platform for POS, online, IVR and mobile.
The company processes over 150 million transactions through its payment platforms, with an annual processing volume of $10bn.
Atom CEO Dewang Neralla said: “This acquisition endorses the immense value created by Atom and its team across the years. We look forward to greater synergies and to implement NTT DATA’s global learning into the Indian markets and thereby further enhance the payments ecosystem in the country.”
The deal, which is subject to approvals, also marks NTT DATA’s entry into the Indian payments market. The IT firm has previously acquired companies in Malaysia, Vietnam, Hong Kong, as well as Thailand.
NTT DATA senior vice president Isao Arima said: “We believe Indian payment market has huge potential, pillared by consistent economic growth and the government’s strong initiative toward digital payments.
“Our payment business in Japan as well as South East Asia will help Atom for providing cross-border payment services to their merchants. Moreover, our customer base and development capability will allow Atom to upward its growth-trajectory.”
NTT DATA has operations in over 50 countries and a workforce of over 120,000 worldwide.