GMO and Telkom Indonesia-backed Red Dot Payments was valued at $65m in a deal in which Naspers subsidiary PayU bought a majority stake.

PayU, a subsidiary of media group Naspers, acquired a majority stake in Red Dot Payment, a Singapore-based online payment technology provider backed by internet company GMO and telecommunications firm Telkom Indonesia, today. The deal values Red Dot at $65m and the majority of its shareholders have exited, though some, including founder Randy Tan, will retain…

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