Digital Wallet Provider Skrill Acquired by Private-Equity Firm for €600 million
Aug. 22, 2013
Private-equity group CVC Capital Partners has taken a majority stake in online payments provider Skrill for €600 million ($802 million). London-based Skrill, which claims 150,000 merchant clients and 35 million account holders worldwide, enables online payments through its digital wallet and through paysafecard prepaid vouchers (which it acquired last year). CVC acquired its stake from an investment group led by Bahrain-based Investcorp.
“We are delighted to have CVC on-board whilst retaining Investcorp as a significant investor, as we continue our evolution and growth as a global payments provider,” said Siegfried Heimgaertner, president and CEO of Skrill Group. “CVC’s global reach and experience will support our goal to become the first choice in online payments on a global basis. The value-based transformation we began in 2012 will continue unabated through this year and into 2014.”
Skrill, which employs around 700 people, said it offers businesses access to direct payment processing via 100 payment options in 200 countries and 40 currencies. The agreement is subject to regulatory approvals.