Kalixa completes acquisition of PXP Solutions
Online gaming operator bwin.party has announced that its Kalixa payments group has acquired card payment processing firm PXP Solutions.
Kalixa said that the acquisition would form part of a three-year plan to increase the proportion of its revenue that comes from outside of the group.
The firm claimed that integrating PXP would ‘significantly’ grow the size of its payment processing volume and is expected to generate ‘substantial’ revenue synergies in credit card acquisition and issuance.
PXP’s in-store payments technology is currently used by 8,000 merchants and retailers in 27 countries around the world.
Kalixa said that the acquisition would create value for customers that choose to use Kalixa’s end-to-end payments offering, through the delivery of improved customer loyalty, data collection and analytics, access to more product innovations and heightened operational efficiencies.
Although the terms of the deal were left undisclosed, it was confirmed that Kalixa and PXP Solutions would continue to operate under their existing brands and address their respective segments of the payments market.
“Today's acquisition provides excellent cross-selling opportunities for both Kalixa and PXP and has created a payments business with a balanced portfolio of customers, sectors, and geographies across Europe starting to enter the US and APAC,” bwin.party chief executive officer Norbert Teufelberger said.
“We are working on a series of other strategic initiatives that we expect will further enhance the future prospects for Kalixa and its value to the group.”
Ed Chandler, chief executive officer of Kalixa, added: “Today's announcement marks a major milestone in creating a world-class payments company with an unrivalled portfolio across the entire payments value chain.
“Kalixa and PXP together now have the scale and breadth of services to expand significantly in the global payments market.
“We are focused on introducing Kalixa Pro and Kalixa Pay services to PXP's extensive portfolio of merchants across 27 countries and in the process diversify into new sectors such as retail, travel and leisure, and financial services.”
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