Senj? Group, a Singapore-based payments investment firm, has agreed to acquire online gaming company GVC Holdings’ payment processing business Kalixa for a total consideration of €29m.
Kalixa processes transactions worth €11bn annually for more than 800 merchants and supports 100 of the world’s most popular payment methods.
Kalixa generated revenue of €22.7m in the financial year ended 31 December 2015 of and has offices in London and Vienna.
The deal, which is expected to be completed by the first quarter of 2017, will allow Senj? Group to extend its reach into European markets.
Commenting on the acquisition, Senj? COO Gavin Lock said: “The acquisition of Kalixa fits well within Senj? 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 Senj? with a significant bridgehead in Europe supported by a strong Kalixa management team. In return Senj? 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 even after the completion of the acquisition.