Global Payments acquires UK’s Takepayments for undisclosed sum

Global Payments Acquires Takepayments: Key Points

1. Acquisition Announcement:
   • American paytech firm Global Payments has acquired UK-based card payment solutions provider Takepayments.
   • The acquisition was disclosed through a Companies House filing.
2. Company Background:
   • Founded in 1995, Takepayments offers card machines, POS systems, and online payment solutions.
   • It serves over 75,000 businesses in the UK.
3. Financial Performance:
   • Takepayments reported a turnover of £52.7 million for the fiscal year ending 30 September 2022.
   • This marks an increase of £11.9 million from the previous year.
4. Ownership History:
   • Takepayments was majority-owned by private investment firm Grovepoint since 2016.
5. Acquisition Valuation:
   • In February, Reuters reported that Global Payments was leading the race to acquire Takepayments at a valuation of $250 million.
6. Strategic Benefits:
   • The acquisition is expected to help Global Payments expand its merchant base in the UK.
   • It will further establish Global Payments’ presence in the card payment solutions market.
7. Terms and Comments:
   • The specific terms of the acquisition have not been disclosed.
   • FinTech Futures reached out to Global Payments, Takepayments, and Grovepoint for comments.