09:49 AM EST, 01/16/2025 (MT Newswires) -- (Updates with Amazon ( AMZN ) comment in the fifth paragraph.)

Amazon.com ( AMZN ) has entered into an agreement to acquire Axio, the India-based buy-now, pay-later startup said in a blog post.

Financial details of the transaction were not disclosed.

Axio said the deal was signed in December after due diligence and is awaiting regulatory approvals.

TechCrunch, citing two sources familiar with the matter, reported Wednesday that the size of the deal is over $150 million.

In an emailed statement to MT Newswires, an Amazon ( AMZN ) spokesperson said Axio is now waiting for approval of its application filed with regulators in India to allow for a change in control of the company. Once that approval is obtained, Axio will become part of Amazon ( AMZN ), the spokesperson said.

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