Optimal Payments PLC, a leading online payment and risk management provider, has will acquire a definitive agreement to acquire California-based TK Global Partners, parents of Meritus Payment Solutions. According to the company, the acquisition Optimal expansion into the U.S. markets, including iGaming will accelerate payment systems.
Under the agreement, Optimal Meritus would take $ 210 million from $ 150 million in cash and 60 of Optimal Payments shares (in equal installments over four years, beginning with the first anniversary of the closing date), subject to customary closing adjustments million U.S. dollars.
Optimal Payments has signed a definitive agreement to acquire is the trade and assets of the Global Merchant Advisors, Inc.. A US-based online payment company, for up to 15 million in cash and $, of which $ 10 million payable upon completion of the balance is based on future performance of the company.
Completion of the two acquisitions are interdependent and subject to customary closing conditions. Closing on both is expected to take place early in the third quarter of this year.
“The U.S. market represents the largest single expansion opportunity for Optimal Payments,” said Joel Leonoff, President and CEO of Optimal Payments. “After careful consideration of a number of potential candidates, Meritus stood out as the perfect choice on all fronts. Strong stakeholder relations of the company, multi-channel sales, established presence with small and medium-sized businesses in the U.S. and entrepreneurship makes it a ideal acquisition for us. ”
Alan Kleinman, principal and co-founder of Meritus Payment Solutions, adds: “By joining forces with Optimal Payments is an important step in implementing our strategic goals Optimal Payments provides our employees, dealers and business partners the experience, global infrastructure and. product range to reach the extent necessary in today’s market for payments. Both of our organizations share the same enthusiasm and philosophy for future growth, while we combine our operations and to use each other’s strengths. ”