Report: Optimal Payments Prepares to Acquire
May 27, 2014
Over the weekend, a London newspaper reported that online gateway provider Optimal Payments is amassing a $200 million “war chest” it will use to make a transformative acquisition. On Saturday, the London Telegraph said Optimal Payments, which won the Customer Choice award in the Best E-Commerce Platform/Gateway category at the 2014 CNP Awards in Orlando, Fla. last week, will take on $150 million in debt and use the leverage to seek acquisition targets.
The company was formed in 2011 when NEOVIA Financial, based in the Isle of Man, acquired Montreal online payments processor Optimal Payments. While the Telegraph report did not indicate whether the company had a specific takeover target in mind, it quoted Optimal CEO Joel Leonoff, who said the company was seeking to expand its Netbanx gateway business in new geographies.