NTT DATA to acquire a
majority stake in Atom Technologies owned by 63 moons
Mumbai, 27 November 2018:
NTT DATA, a leading IT services provider, headquartered in Tokyo, today
announced that it has entered into an agreement to acquire a majority stake in
Atom Technologies, India’s leading end to end payment services owned by 63
moons technologies. This earmarks NTT DATA foray into the rapidly expanding
Indian payments market and the company aims to strengthen its business presence
in the South Asian markets.
NTT DATA is one of the largest IT
companies globally with revenues of 19 billion USD*. It has presence across over 50
countries and employs more than 1,20,000 globally. Its global payments division
operates one of the largest payment operations in Japan. NTT DATA’s foray in
the payments market in India is a key strategic decision taken at this 19
billion USD company having a Pan – Asian focus on payments having acquired
companies in Malaysia, Vietnam, Hong Kong, and Thailand and is expected to play
a pivotal role in its expansion strategy. Commenting on this development,
Isao Arima, Senior Vice President at NTT DATA said “We
are excited about this deal with Atom, which has substantial presence in both
brick-and-mortar and online payment sector in India. Also appreciate 63 moons
as it has been supporting Atom for building the business and has accepted the
deal. 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. We commit on contributing Indian society with
better payment services by partnering with Atom.”
Even in the recently concluded 13th
India-Japan annual summit, the Prime Ministers of both the countries endeavored
to further strengthen bilateral economic trades and strived to push a digital
partnership wherein leading corporates from both countries could foster a
collaborative economic environment.
Atom is India’s first company to have
created a multi-channel payments platform covering POS, Online, IVR as well as
Mobile. This partnership is a strong endorsement of the rapid strides made by the
two countries in the digital sector and will help Atom to leverage NTT DATA’s
presence across the globe and emerge as a large global payments entity.
Utilizing NTT DATA’s relationship across the spectrum, Atom aims to further
broaden its universe of customers both in India and globally.
Mr. Rajendran, MD & CEO of 63 moons technologies said “Atom Technologies, is one of the
pioneering institutions of 63 moons started in 2005 and has been part of the
Group’s ecosystem. It is one of the first companies in India to offer online
digital payment services. The company has grown exponentially over the years
and has great potential to grow further. In line with the strategy of 63 moons to
exit from the market ecosystem, we were looking for a reliable partner that
would elevate our institution to greater heights.”
Mr. Rajendran further stated that 63
moons has been fortunate in identifying NTT DATA as a partner which is a part
of the NTT Group, a Fortune 100 company and 63 moons is confident that this
partnership will positively benefit Atom Technologies, while it continues to
remain a significant shareholder. This association with NTT DATA clearly
demonstrates Atom Technologies’ technical prowess, capabilities and more
importantly the confidence that market players have in the business practices
of 63 moons.
Dewang Neralla, CEO, Atom Technologies said, “It gives me great delight to
announce the deal with NTT DATA. At Atom, it has always been our endeavor to
offer world-class payment services to our customers and our association with NTT
DATA will help us evolve into our next phase. 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.”
Incorporated in 2005 by 63 moons
technologies, Atom has become one of India’s leading payment service providers
with 1,50,000 plus customers leading merchant tie-ups and has seen more than
150+ million transactions processed through its payment platforms and 10
billion USD volume processed per year. It has more than 250 people and operates
from 25 locations across India. 63 moons technologies limited (formerly
Financial Technologies (India) Ltd.) is a world leader in providing
next-generation technology ventures, innovations, platforms, and solutions for
creating digital markets and marketplaces that enable price discovery and
transaction efficiencies across industry segments.
This acquisition of atom will be
subject to all approvals and 63 moons will endeavor to comply with all legal
requirements.
About Atom Technologies
Atom
Technologies Ltd. is a Mumbai headquartered leading payments service provider
focused on creating an end-to-end payments ecosystem over Internet, IVR, mobile
and point-of-sale through online and offline platforms. Incorporated in 2005,
the company currently manages an array of customers from e-tail, retail,
government, utility, BFSI, DTH, education, entertainment, travel and tourism,
telecom among others. The company as on date processes more than 150+ million
transactions worth USD 10 billion across a merchant population of over
1,50,000.
About 63 Moons Technologies
63
moons technologies limited (formerly Financial Technologies (India) Ltd.) is a
world leader in providing next-generation technology ventures, innovations,
platforms, and solutions for creating digital markets and marketplaces that
enable price discovery and transaction efficiencies across industry segments.
We have always been working towards providing technology solutions, building
user-friendly financial platforms, and creating digital marketplaces in India
and abroad, thus taking India to the global markets.
About NTT DATA
NTT
DATA is a leading IT services provider and global innovation partner
headquartered in Tokyo, with business operations in over 50 countries. Our
emphasis is on long-term commitment, combining global reach with local intimacy
to provide premier professional services varying from consulting and systems
development to outsourcing. For more information, visit www.nttdata.com.
*Based on the average exchange rate during the Fiscal Year 2017, 1USD = 110.82
JPY.