Global Payments targets ecommerce expansion with new acquisition
Payment solutions provider Global Payments has set its sights on expanding its international ecommerce business after completing the acquisition of payment gateway Realex Payments.
The transaction is valued at €115 million ($126.9 million) and will be funded by available liquidity.
Global Payments said that the deal would allow it to strengthen its omni-channel solutions, which combine gateway services, payment service provisioning and merchant acquiring across Europe.
The acquisition is not expected to have a material impact on Global Payments’ fiscal 2015 results or capital plans, while additional details about the deal will be provided during the firm’s earnings call on April 8.
“Realex Payments represents a strategic investment to expand our international omni-channel technology offerings, enhancing our go-to-market strategy in one of our largest regions with industry leading value-added products and services,” Global Payments’ chief executive officer, Jeff Sloan, said.
“We are excited to further invest in our European businesses, continue to leverage our multinational footprint and accelerate our growth opportunities at a favourable time in Europe.”
Colm Lyon, chief executive officer of Realex Payments, added: “We are thrilled to be joining the Global Payments team.
“The combination of Global Payments’ multinational acquiring expertise with Realex Payments' technologies and employees will position us well for global growth and expansion.”
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