PhonePe, Affle, seek 'out of court' settlement for Indus OS acquisition

PhonePe had placed a bid to acquire 92 per cent stake in Indus OS at a valuation of around $60 million

Walmart-owned digital payments firm PhonePe, mobile platform Indus OS, Affle Global Pte Ltd (AGPL) and Ventureast (VPF) said that they are moving towards an out of court settlement regarding the dispute about PhonePe acquisition of Indus OS.

In a joint statement, the firms said that the settlement of the dispute involving VPF shares in Indus OS is a significant step towards a greater outcome for Indus OS and its stakeholders. 

The joining of many important forces (Indus OS Founders, PhonePe, Samsung and AGPL) would anchor Indus OS in the next part of its value creation journey. 

“The strategic confluence