Senjō to acquire Kalixa Group from GVC
GVC Holdings has agreed to sell its Kalixa Group payments arm to global payments operator Senjō Group for €29 million ($30.4 million).
Completion of the transaction is subject to various domestic and international regulatory approvals, but both parties expect to the deal go through during the first quarter of next year.
Kalixa, which generated revenue of €22.7 million in the year ended December 31, 2015, processes transactions worth €11 billion each year for more than 800 merchants and supports 100 of the world’s most popular payment methods.
The agreement does not include the wallet business currently operated by Kalixa Pay Limited, a subsidiary within the Kalixa Group, which GVC said it will close after completion of the deal.
Total consideration for the acquisition is capped at €35.5 million.
“The acquisition of Kalixa fits well within Senjō Group’s strategy of building out a global payments ecosystem,” Senjō chief operation officer Gavin Lock said.
“We believe Kalixa will be complementary to our existing portfolio of payments businesses around the world and will create a combined group that leverages the best of both companies.
“This transaction will provide Senjō with a significant bridgehead in Europe supported by a strong Kalixa management team.
“In return, Senjō Group will provide Kalixa with access to a network in Asia and the benefits of being a part of a global specialist payments operator.”
Kenneth Alexander, chief executive of GVC, added: “We are pleased to announce the sale of Kalixa in line with our plans announced earlier in the year.
“Post-sale Kalixa will continue to process payments for GVC and our customers, but now with the opportunity to build a larger payment services business under new ownership which has payments as a core activity.”
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