A global provider of online and mobile payment processing services, Optimal Payments Plc., is set to acquire Skrill Group. Skrill Group is a subsidiary CVC Funds and other shareholder and Optimal is set to acquire Skrill for approximately €1.1 billion (US$ 1.3 billion).
Skrill is one of the leading digital payment of Europe business that provide digital wallet solutions and online payment processor. It is also one of the largest prepaid online voucher providers in Europe with its paysafecard brand.
According to said Joel Leonoff, president & CEO, Optimal Payments:
“Over the past four years, we have successfully delivered significant growth in revenues and earnings for our shareholders. This growth resulted from executing our strategy to generate high levels of organic growth and to supplement this with accretive acquisitions. The acquisition of Skrill will create a global tech champion in the fast growing digital payments space and we believe represents a transformational leap forward that greatly accelerates our strategic plan. The Optimal Payments management team is extremely excited about the future prospects for the Company.”
Subject to the satisfaction of a number of conditions including Optimal Payments’ shareholder and regulatory approvals, the acquisition is believed to be transformational and value- enhancing for Optimal Payments as it will create a leading payment and digital wallet provider with significant international scale.
The combination of the two companies can process 100+ payment types in 22+ languages and 41 currencies.
Headquartered in London, UK, Skrill is a provider of digital payment and electronic money solution. Skrill has key offices in Vienna, New York and Sofia. One of the Europe’s leading digital payment provider, Skrill provides digital wallet solutions and online payment processing with one the largest pre- paid online voucher providers in Europe with paysafecard brand.
About Optimal Payments
Founded in 1982, Optimal Payments is a global provider of online payment solutions. Optimal Payment is trusted in over 200 countries and it provides credit/debit card and e-check solutions to retail/point of sale, Internet, and mail-order/telephone-order merchants in Canada, the United States, Europe, and the Caribbean. Employing around 102 employees worldwide, Optimal Payments offers merchant support services, online solutions, card acceptance, and online reporting tools and the company is headquartered in Canada.