August 24, 2016
Pair of Acquisitions Expands Cross-Border Opportunities for U.S. Merchants
July 7, 2014
A holiday week in the U.S. was a busy one in the rest of the world for acquisitions affecting the card-not-present space. Ingenico Group, the French POS terminal manufacturer, continued its efforts to become a full-service global payments provider with an agreement to purchase Dutch PSP GlobalCollect for $1.1 billion. GlobalCollect, a majority of which is owned by private-equity firm Welsh, Carson, Anderson & Stowe, mainly enables merchants to sell online across borders, offering access to 150 local payment methods in 170 countries.
From Ingenico’s perspective, the company said in a statement, the acquisition would enable it to “rebalance the Group’s geographical footprint towards the North American market,” and “significantly [reinforce] its position in the card-not-present space.”
“This is a great opportunity to maintain our time-to-market advantage to rapidly reinforce Ingenico Group’s position as a global leader in seamless payment,” said Philippe Lazare, CEO of Ingenico Group. “As an example, it would be a real game changer in North America where we would provide payment solutions across all sales channels, beyond smart terminals.”
Separately, Optimal Payments, the online processor and gateway provider based on the Isle of Man, said it has agreed to acquire California-based ISO Meritus Payment Solutions for $210 million. Optimal gains Meritus’ merchant portfolio of 8,000 mostly small and midsize companies and its relationships with U.S. acquiring banks including Wells Fargo, Woodforest National Bank and National Bank of California. Merchants currently using Meritus for domestic online payment processing now have access to Optimal’s NETBANX gateway if they want to expand internationally.
“The U.S. market represents the single greatest expansion opportunity for Optimal Payments,” said Joel Leonoff, president and CEO of Optimal Payments. “After careful evaluation of a number of potential candidates, Meritus stood out as the perfect choice on all fronts.  The company’s strong stakeholder relationships, multi-channel sales force, established presence with small and medium businesses in the U.S. and entrepreneurial spirit makes them an ideal acquisition for us.”