HPS (Hightech Payment Systems), a leading global provider of payment software and solutions, has announced the completion of the acquisition of 100% of the capital of the Irish company CR2 Limited, following the lifting of the applicable regulatory suspensive clauses.
This acquisition, which was first announced on May 24, marks an important step in HPS’ growth project, which continues to execute its AccelR8 strategic plan, the group said in a press release.
CR2 is expected to contribute significantly to HPS’ financial performance by providing new revenue opportunities in complementary markets. By combining the strengths of BankWorld and PowerCARD, HPS is now better positioned to offer its customers cutting-edge payment and digital banking solutions, enabling them to improve their competitiveness in a constantly evolving market.
The transaction is expected to be accretive to HPS’s earnings per share in the first year following its completion, reflecting the synergies expected to be achieved. In the 12 months to June 2023, CR2 generated revenue of €23.8 million.
Evercore acted as exclusive financial advisor to HPS. Norton Rose Fulbright and Matheson LLP served as legal advisors to HPS.
With offices in Dublin, Dubai, Jordan, India and Australia, CR2 is recognized for its innovative solutions in Digital Banking and Electronic Payments. Through its flagship platform, BankWorld, CR2 powers over 90 banks in over 50 countries, offering a comprehensive suite that integrates Digital Banking, Digital Wallet and Payments Solutions (card issuance, ATM management, merchant acquiring).
Additionally, CR2’s partner ecosystem combines BankWorld’s reliability with easy access to plug-and-play third-party fintech innovations.
LNT with Map
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– 2024-08-29 10:28:55
