Loyalty administration platform operator Capillary Applied sciences India has introduced the acquisition of Mastercard-owned Session M in an all-cash $20 million deal, marking a major abroad growth for the Bengaluru-headquartered SaaS firm.

In a inventory alternate disclosure on Tuesday, the corporate mentioned its board has accredited an funding into its wholly owned abroad arm, Capillary Pte. Ltd., to accumulate one hundred pc shareholding in US-based Session M Inc., at present an entirely owned subsidiary of NYSE-listed Mastercard Inc. The transaction may even embrace Session M Czech Republic.

The deal includes a base money consideration of $20 million upfront. The ultimate payout might be topic to customary changes at closing for debt, working capital and associated elements. The acquisition is anticipated to be accomplished inside 180 days from the signing date.

Based in 2011 and purchased by Mastercard in 2019, Session M operates a cloud-based loyalty and buyer engagement platform within the software-as-a-service, or SaaS, phase. The corporate reported a turnover of $50.5 million in calendar 12 months 2025, in contrast with $54.5 million in 2024 and $57 million in 2023.

Session M has a major presence in North America, together with operations in Latin America and Asia Pacific markets. It serves purchasers throughout meals and drinks, shopper items and retail, airways, and oil and gasoline sectors.

Capillary mentioned the acquisition varieties a part of its inorganic progress technique to strengthen its footprint in North American and Latin American loyalty markets, whereas including to its APAC portfolio. The corporate famous that Session M’s complementary enterprise mannequin and long-tenured blue-chip clientele are anticipated to help post-acquisition efficiencies within the loyalty phase.

In response to an investor presentation, the mixed entity is anticipated to have over $115 million in annual recurring income and serve greater than 150 prospects globally after the acquisition.

Capillary Applied sciences, which went public in November 2025, had a muted itemizing. The inventory debuted at Rs 560 per share on the BSE, a 3% low cost to its subject value of Rs 577. On the NSE, it opened at Rs 571.9.

On the monetary entrance, Capillary’s income from operations rose 16% year-on-year to Rs 184 crore in Q3 FY26. Nevertheless, its revenue declined 23% to Rs 8 crore in the identical interval.