Paytm may acquire UCWeb’s India biz

Softbank backed Paytm is all set to acquire Alibaba backed browser UCWeb as reported by leading media resources. If sources are to be believed this acquisition could valued around $400-$500 million.  

One97 Communications owned Paytm plans to use the browser to market its products and acquire a new set of users, especially first generation internet users in non-metro cities, a segment in which UC Browser is very strong.

UC Browser has a strong foothold  in Vietnam, Indonesia, Russia and its home turf, China.