Hitachi’s FinTech crusade, buys Indian firm Prizm Payments

In one of its biggest strategic investments in recent years, Japanese engineering and electronics maker Hitachi Ltd. has acquired a major stake in Chennai based Prizm payments. Winvest Holdings (India) Private Limited, Sequoia Capital, Axis Bank and other minority shareholders will be selling their stake to Hitachi.

Hitachi had also recently acquired eBworz Berhad, a Malaysia headquartered financial IT solutions company. Prizm has a strong presence in the FinTech space in India with a revenue of $80 Mn (500 cr) annually. Hitachi's acquisition of Prizm will help them in establishing a strong foothold in the field of payments. Hitachi is also pretty keen on earning a bigger place in the booming Indian technolog ...

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