Published on April 3, 2015 in Industry News

Optimal Payments & SkrillThere are many rumours doing the rounds about the possible purchase of one of Europe's leading digital payments businesses, Skrill Group, by Optimal Payments Plc. It has now been confirmed by the Directors of Optimal Payments that an agreement to acquire Skrill Group from CVC Funds and other shareholders has been entered into for $1.2 billion

The Skrill Group provides digital wallet solutions and online payment processing capabilities as one of Europe's most popular payments businesses. The company also provides prepaid online vouchers with its paysafecard brand. 

The Directors of Optimal Payments have made it clear that they believe the acquisition of Skrill Group will enhance the value of their already growing business. Optimal Payments Plc is hoping to create a leading payment and digital wallet provider with significant international scale.

The combined companies will form the “Enlarged Group” and hopes to offer 100+ payment types in 22+ languages and 41 currencies. This would also mean a significant boost in customer and geographic diversification as well as increased merchant diversification. 

“Over the past four years, we have successfully delivered significant growth in revenues and earnings for our shareholders,” said Joel Leonoff, president & CEO, Optimal Payments.

“This growth resulted from executing our strategy to generate high levels of organic growth and to supplement this with accretive acquisitions. The acquisition of Skrill will create a global tech champion in the fast growing digital payments space and we believe represents a transformational leap forward that greatly accelerates our strategic plan. The Optimal Payments management team is extremely excited about the future prospects for the Company.”

With more than 140 years of experience in international payment processing, Optimal Payments has a strong leadership team at the helm and the Skill Group will be in good hands once this acquisition takes place later this year.