- Acquisition of Kalixa Group from GVC Holdings PLC for a total consideration of €29.0 million
- Completion expected during Q1 2017, subject to domestic and international regulatory approvals
- Kalixa Group will continue to provide payments processing to GVC Holdings post-Completion
- Acquisition supports Senjo Group's strategy to create a global payments ecosystem
- Transaction combines Kalixa's strong market position in Europe with Senjo's extensive Asia network
- Leverages Senjo's payments focus and expertise, and Kalixa's experienced management team
Senjo Group ("Senjo"), a global payments operator and FinTech investment firm, has entered into an agreement with GVC Holdings PLC to acquire its payments processing business Kalixa Group ("Kalixa") for a total consideration of €29.0 million payable in cash on completion, subject to a completion accounts adjustment. The total consideration is capped at €35.5 million.
Completion of the transaction ("Completion") is subject to a number of domestic and international regulatory approvals but is expected to close during the first quarter of 2017.
Kalixa is one of the leading providers of payment services in the world and enables consumers, small business and merchants to make and accept payments. The Company processes transactions worth €11 billion annually for more than 800 merchants and supports 100 of the world's most popular payment methods. In addition to acquiring and gateway capabilities, Kalixa has innovative wallet and issuing technologies and operations. It has offices in London and Vienna. Kalixa generated revenue in the financial year ended 31 December 2015 of €22.7 million.
Senjo is a privately-held global payments investment company specialising in providing innovative and disruptive solutions in global electronic payments, trade finance and e-commerce. It was established by a team of experienced payments and corporate finance experts bringing together a portfolio of companies with a presence in over 32 countries.
Gavin Lock, Chief Operation Officer, Senjo, noted: "The acquisition of Kalixa fits well within Senjo Group's strategy of building out a global payments ecosystem. We believe Kalixa will be complementary to our existing portfolio of payments businesses around the world and will create a combined group that leverages the best of both companies. This transaction will provide Senjo with a significant bridgehead in Europe supported by a strong Kalixa management team. In return Senjo Group will provide Kalixa with access to a network in Asia and the benefits of being a part of a global specialist payments operator. We look forward to working with the Kalixa team."
Kalixa will continue to process payments for GVC and its customers post-Completion.
Daniel Stewart Company Plc, Linklaters LLP and BTG Financial Consulting are Senjo Group's advisers for the transaction.
About Senjo Group
Senjo Group is a leading privately-held investment company, specialising in providing innovative and disruptive solutions in global electronic payments, trade finance and e-commerce.
Established by experienced payments and corporate finance experts, it is redefining investment in financial technology by combining financial capability with operational experience.
Overseen by an international advisory board, Senjo's strategy is to build a world class portfolio of high-growth, cutting-edge companies that profit from the convergence of technology and global payments. Senjo's proposition is further strengthened by an emphasis on intra-group collaboration and innovation.
Headquartered in Singapore, Senjo has a network of regional offices in Japan, Indonesia, Malaysia, Myanmar, Thailand, Luxembourg and the UK, and operations in most major markets across Asia, Europe and North America.
To learn more about Senjo Group please visit: www.senjogroup.com
About Kalixa Group
Kalixa payments group provides merchants of all sizes with omni-channel payments from one supplier. It delivers value to customers by reducing costs, eliminating complexity, boosting operational efficiencies, creating new revenue streams and delivering a seamless, intelligent and frictionless payments experience across multiple channels.
Kalixa's core products are Kalixa Accept, which allows merchants to accept more than 100 payment methods and the PXP Payment Gateway with customers including Abercombie Fitch, Urban Outfitters, Intercontinental Hotel Group and GVC.
Kalixa payments group has an addressable market of more than 100 countries worldwide. It has over 150 employees internationally and offices in London, Vienna and New York.
Gavin Lock, COO
Tim Johnstone, Head of Senjo Payments
Sam Evans, Corporate Development
Cognito (PR Adviser to Senjo Group)
Tim Williamson, Ena Yow