March 24, 2015
Optimal Payments, a global provider of online and mobile payment processing services, has entered into an agreement to acquire Skrill Group for an enterprise value of approximately $1.2 billion. The Skrill Group is one of Europe's leading digital payments businesses, providing digital wallet solutions and online payment processing capabilities. It is one of the largest prepaid online voucher providers in Europe through its paysafecard brand.
Optimal Payments is looking forward to this acquisition to be transformational and value-enhancing for the company. The acquisition will help create a leading payment and digital wallet provider with significant international scale and reach that is well positioned to capitalize on the substantial, and growing, payment processing and digital wallet markets.
Joel Leonoff, president & CEO of Optimal Payments, said in an official press release, 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 [it] 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.
Here are some prime strategic advantages that could emerge from this acquisition: