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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.

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