Majmudar & Partners is representing San Francisco-based mobile payments company Boku, Inc. on its proposed acquisition of a 100% stake in Mumbai-based Spunk Media Private Limited, which owns and operates the mobile billing aggregator business of Qubecell. The deal is expected to add more than 75% of the country’s mobile subscribers, which is roughly 550 million potential users, to Boku’s consumer base, making it the largest provider of direct carrier billing in India. The acquisition will also provide Boku with direct carrier billing connections with four of the largest carrier networks in India, along with a number of key local merchant relationships. The transaction agreement was signed last week and closing is expected in a few weeks. The deal size is confidential.

Akil Hirani, Managing Partner, and Christopher Krishna moorthy, Associate Partner, are leading the team from Majmudar & Partners on this transaction.