Zaggle announces acquisition of Click&Pay

Zaggle, a payments and group dining company today announced the acquisition of city-based Click&pay, a tech start up backed by Dubai-based Investors in a cash-and-stock deal.

According to a company release, the acquisition will enable it to build a "World Class Expense Management Platform" and create a unique value proposition for its customers.

Zaggle being a platform thatconnects consumer and corporate spends to merchants through proprietary tech platforms like Employee Perk System, Reward and Recognition Program, Channel Incentive and Online Cashback.

Zaggle's huge customer base and Click&Pay unique payment proposition will enable customers to consolidate expense management and bring about an efficient mechanism within the organisations, it said.

Founder of Click&Pay Kalyan Karteek said, the partnership would help create a vibrant corporate ecosystem where millions of corporates get the opportunity of consolidating and centralising all travel, health and entertainment billings that help keep a tab on expenses.

The deal is in part cash and part stock transfer and post acquisition, Click&Pay team of 25 members would join the over 150 Zaggle team, the release added.