Euronet Worldwide agrees to HiFX acquisition

Tuesday 11 March 2014 13:13 CET | News

Euronet Worldwide, a global electronic payments provider and distributor, has entered into an agreement to acquire UK-based HiFX, a provider of online initiated international payments and foreign exchange services, for approximately USD 242 million.

The acquisition enables Euronet to offer an account-to-account international payment service to individuals and small-to-medium sized businesses, complementing the existing consumer-to-consumer money transfer business. 

From the price of the purchase, 25% will be paid in shares of Euronet stock and the balance in cash. Euronet expects the acquisition, which is subject to customary regulatory approvals and closing conditions, to close in the Q2 2014.

Euronet Worldwide is a processor of electronic financial transactions. The company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include ATM, POS and card outsourcing services, card issuing, merchant acquiring services, software solutions, consumer money transfer, bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products.

HiFX is an international money transfer specialist based in the UK and Australasia. Established in 1998, HiFX works with over 80,000 private individuals each year and 6,000 corporate clients worldwide.


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Keywords: Euronet Worldwide, HiFX, online, payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce