UK-based processor Kalixa has acquired PXP Solutions, a 27-year-old privately held UK-based merchant processor, according to lawyers involved in the deal.
Some 8,000 merchants and retailers in 27 countries worldwide use PXP’s in-store payments technology. Its customers range from small and midsize businesses to leading consumer brands that include Urban Outfitters, Burger King and SAGA. It processes 3.6 million transactions per month.
Integrating PXP with Kalixa will significantly grow the size of Kalixa’s payment processing volume and is expected to generate substantial revenue synergies in the areas of credit and debit card acquisition and issuance, according to Cambridge based law firm Taylor Vinters.
On a pro forma basis, in 2013 the combined businesses processed a total transaction volume of €10 billion (US$13.7 billion), the law firm said.
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