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DigiAsia, an Indonesia-focused FaaS company, has announced a merger with StoneBridge Acquisition Corporation, set to close in 2Q 2023 under the ticker symbol Nasdaq: FAAS. The deal values DigiAsia at a pre-money equity valuation of $500 million and may provide up to $200 million in net cash for growth initiatives. Strategic partnerships include exclusive collaborations with Mastercard and DBS Bank. Existing shareholders will roll over 100% of their equity. This merger aims to enhance financial inclusion in Indonesia, addressing a substantial $245 billion market.
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