Global payments operator Senjo Group is all set to acquire online gaming and sports betting company GVC Holding’s payment processing arm Kalixa Group for $30.34 million. In the agreement signed between two entities, Senjo will make the payment in cash, subject to a completion accounts adjustment. The total consideration of the transaction is capped at $37.14 million.
Kalixa payments group provides merchants of all sizes with omni-channel payments from one supplier. It is one of the leading providers of payment services in the world and enables consumers, small business, and merchants to make and accept payments. It processes transactions worth $11.51 billion annually for more than 800 merchants and supports 100 of the world’s most popular payment methods. Also, it possesses innovative wallet and issuing technologies and operations.
Gavin Lock, Chief Operation Officer, Senjo, in a statement said,
The acquisition of Kalixa fits well within Senjō 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, the group will provide Kalixa with access to a network in Asia and the benefits of being a part of a global specialist payments operator.
Kalixa will continue to process payments for GVC and its customers post completion of the deal. Daniel Stewart & Company Plc, Linklaters LLP and BTG Financial Consulting are Senjo Group’s advisers for the transaction.
Senjō 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. Recently it reallocated its headquarters to Singapore, and had funded B2B marketplace Tjaara.