HSA Advocates advised Mindgate Solutions Private Limited and its Promoters on investment by ACI Worldwide Inc.
HSA Advocates advised Mindgate Solutions Private Limited (Mindgate) with regard to a strategic investment by US-based electronic payments company ACI Worldwide Inc. (ACI). As part of this investment, ACI and Mindgate will deliver a joint real-time payments solution that will combine ACI’s proven Universal Payments software solutions with Mindgate’s digital overlay services. This investment will also provide Mindgate with the ability to expand its footprint globally.
Mindgate processses 30 million digital transactions globally everyday, and 70% of UPI transactions are currently routed through Mindgate-customer banks. UPI has quickly emerged as the second most common method of digital payment in India. ACI has acquired minority stake in Mindgate Solutions Private Limited by way of primary as well as secondary subscription of Equity Shares.
HSA Advocates advised Mindgate and Promoters including Mr. George Sam and Mr Guhan Muthuswamy on all aspects of the transaction and was led by Rachika A Sahay (Partner), along with Meghna Mishra (Associate) and Aakash Sharma (Associate).