The transaction is expected to close in Q3 of 2021 and is subject to normal closing conditions and approvals. Ixaris offers financing and payment methods, issuing over 10 million virtual cards in 2019, and processing a total of 24 million transactions. The Nium platform enables customers to deploy new financial services in a wide variety of sectors, from card issuance to cross-border payments.
All Ixaris employees, based in the UK and Malta, will join the Nium family. According to a Nium representative, the acquisition will serve to offer a solution that combines Ixaris' virtual card capabilities with Nium's pay-in, pay-out and embedded forex capabilities. An Ixaris Group representative states that the partnership enables them to offer a broad portfolio of virtual card offerings to companies as part of the Nium family.
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