Global Payments Acquires Takepayments: Key Points
- 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.
- Company Background:
- Founded in 1995, Takepayments offers card machines, POS systems, and online payment solutions.
- It serves over 75,000 businesses in the UK.
- 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.
- Ownership History:
- Takepayments was majority-owned by private investment firm Grovepoint since 2016.
- Acquisition Valuation:
- In February, Reuters reported that Global Payments was leading the race to acquire Takepayments at a valuation of $250 million.
- 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.
- 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.
