Kalixa, a London-based payment services provider, has purchased PXP Solutions, a Hertfordshire-based privately-owned company with a 27-year track record in the card payment processing sector.
Following completion of the transaction, Kalixa’s addressable market will extend to more than 100 countries globally.
Based on their independent volumes from 2013, the combined business processed total transaction volume worth more than 10bn ($13.65bn).
Upon closing of the deal, the united Kalixa group will deliver payment services to merchants and retailers of any size across any channel, using any device, all from a single integrated technology platform.
Additionally, both Kalixa and PXP will continue to operate under their existing brand names and address their respective parts of the payments market.
The new Kalixa group will be headed by Ed Chandler, Kalixa’s current CEO, while PXP’s former CEO, Ritz Steytler, will take on the role of chief operating officer. The company will retain all employees.
Commenting on the deal, Ed Chandler said: "With the acquisition of PXP, we’ve created a world-class payments company with an unrivalled portfolio across the entire payments value chain."
"Kalixa now has the scale and breadth of services, as well as the expertise and insight, to disrupt the global payments market and deliver a significant amount of added value to our merchants.
"We are focused on introducing Kalixa Pro and Kalixa Pay services to PXP’s extensive portfolio of merchants across 27 countries and in the process diversify into new sectors such as retail, travel and leisure, and financial services", Chandler added.
Financial terms of the acquisition have not been disclosed.