Singapore-based ride-hailing and logistics services firm Grab has signed an agreement to acquire Indonesian online payment startup Kudo for an undisclosed amount. The acquisition, which marks Grab’s first investment of its US$700 million ‘Grab 4 Indonesia’ 2020 master plan, is expected to further expand its presence in the digital payments ecosystem, apart from supporting rapid growth in online consumer spending in Indonesia. The cash and equity deal is expected to be worth more than $100 million, as reported by TechCrunch. However, both the companies did not reveal the commercial terms.