In support of its push to tackle the U.S. Market, Optimal Payments Plc has moved to acquire California-based payment processing entity Meritus Payment Solutions (business name of TK Global Partners LP) for $210 million. The deal will be paid out in $150 million cash, and $60 million in Optimal Stock, which will be released in four equal tranches over the next four years.
In a separate deal, Optimal Payments has moved also to acquire the trade and assets of Global Merchant Advisors, Inc. an American online payments company for $15 million in cash.
“The US market represents the single greatest expansion opportunity for Optimal Payments. After careful evaluation of a number of potential candidates, Meritus stood out as the perfect choice on all fronts,” said Optimal CEO Joel Leonoff, in a released statement. “The company’s strong stakeholder relationships, multi-channel sales force, established presence with small and medium businesses in the US and entrepreneurial spirit makes them an ideal acquisition for us. I am very excited about the combination of our businesses which immediately accelerates the Group’s growth opportunities and accomplishes a stated key strategic goal for us in 2014.”
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More