Optimal Payments Acquires Skrill for $1.2 Billion
March 23, 2015
Optimal Payments, the U.K.-based online and mobile payments provider, today said it has agreed to acquire digital wallet company Skrill Group for $1.2 billion. Optimal, which acquired Meritus Payment Systems last July to increase its U.S. presence, will add Skrill’s presence in online gambling payments to its own and the ability to pay online using virtual vouchers through Skrill’s paysafecard unit.
The combined company reportedly is looking toward the expansion of online gambling in the U.S. as legislation is pending in several states liberalizing current rules. Optimal also said teaming up with Skrill would bolster its position as an online gateway provider for e-commerce merchants.
“Over the past four years, we have successfully delivered significant growth in revenues and earnings for our shareholders,” said Joel Leonoff, president and CEO of 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 combined company will enable online payment in over 100 payment types in 41 currencies and 22 languages.