The gift card services provider is set be acquired by Pine Labs in a $110m deal, after raising more than $21m from investors including Amazon and Sistema.
Point-of-sale (POS) technology provider Pine Labs agreed on Tuesday to buy India-based gift card technology provider Qwikcilver in a $110m deal, enabling conglomerate Sistema and e-commerce firm Amazon to exit.
Founded in 2007, Qwikcilver has developed technology that enables retail and corporate customers in India, the Middle East and Southeast Asia to create, process and distribute their own gift cards, for use in vouchers, promotions or as part of an employee benefits scheme.
Pine Labs launched its own gift card…
