Optimal Payments PLC Expands into US Market with major Acquisitions
Jul 3, 2014
Realizing the incredible potential in the US payment processing market, UK firm Optimal Payments decides to acquire significant businesses to achieve their ambitions.
Optimal Payments has agreed to buy all partnership interests of California’s payment transfer company TK Global Partners LP. Casino gambling news reports the overall deal will cost around $210 million, of which $60 million will be paid in Optimal Payments shares distributed equally over a four year period.
The British firm has also agreed to purchase the trade and assets of Global Merchant Advisors Inc., which is one of the biggest online payment providers in the US. The deal is valued up to $15 million, however the last $5 million payout depends on the future performance of the company.
Optimal Payments stands to benefit immensely from the deal
Despite the agreements in place, the deals are yet to be officially completed. The handing-over date is expected to happen at the beginning of the third quarter of 2014.
Optimal Payments will have the right to claim a number of business opportunities once the deals are finalized. Over 8,000 US small, medium and high growth businesses will become available across vertical markets. Human capital is also significant, as there will be a US sales force that has the proven track-record and relevant experience in the field.
In addition, Optimal Payments will be able to secure business relationships with many banking institutions that will be able to provide their expertise and smart strategies in future times.