By Justina Lee

Alphabet Inc.'s Google has agreed to acquire Japan-based payments company Pring, amid growing demand for cashless services in the country.

Metaps Inc., Miroku Jyoho Service Co. and Nippon Gas Co., which are Pring's three largest shareholders, said Tuesday that they would sell a combined 87% stake to Google.

Financial technology company Metaps said it will sell its 45% stake in Pring for 4.9 billion yen ($44.4 million). Miroku said it would sell a 22.7% holding, while Nippon Gas is selling an 18.6% stake.

Write to Justina Lee at justina.lee@wsj.com

(END) Dow Jones Newswires

July 13, 2021 05:47 ET (09:47 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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