Capillary Technologies to acquire Mastercard-owned Session M for $20 Mn

SaaS firm Capillary Technologies has approved an investment in its wholly owned overseas arm to acquire US-based loyalty and engagement platform Session M Inc., the company disclosed this development in a regulatory filing on Tuesday.

The board has cleared an investment into Capillary Pte. Ltd. to buy 100% shareholding in Session M, which is currently a wholly owned subsidiary of Mastercard Inc.. The transaction will also include Session M’s Czech subsidiary.

Founded in 2011, Session M operates a cloud-based loyalty and customer engagement platform. The company posted a turnover of $50.5 million in CY2025, down from $54.5 million in CY2024 and $57 million in CY2023.

As per the disclosure, the deal involves a base cash consideration of $20 million and is expected to be completed within 180 days from the signing date.

Capillary Technologies made a muted debut on the stock exchange, listing at Rs 560 per share on the BSE, a 3% discount to its issue price of Rs 577. On the NSE, the stock opened slightly higher at Rs 571.9.

On the financial front, Capillary Technology’s revenue from operations increased 16% to Rs 184 crore in Q3 FY26. On the other hand, its profit decreased by 20% to Rs 8 crore in the same period.

At the end of today’s trading session, Capillary Technologies’ share price stood at Rs 512, giving the firm a total market capitalization of Rs 4,067 crore ($447 million).