Tata Communications is negotiating to pick up a stake in Prizm Payments Services (PPM), say news reports.
The vendor is reportedly looking to expand its payment services business under its subsidiary, Tata Communications Banking InfraSolutions Limited (TCBIL). Besides, Apax Partners and Avendus have also reportedly put in their bids for a stake in the company.
PPM plans to raise about Rs 6 billion from a strategic investor to fund its expansion plan. The company was founded by first generation entrepreneurs Antony, Shyam Sunder and Jayant D?Mello and obtained the first round of funding in 2011 from Sequoia Capital.
