Global Payments acquires UK’s Takepayments for undisclosed sum
American paytech firm Global Payments has acquired Takepayments, a UK-based card payment solutions provider, according to a Companies House filing.
Takepayments acquired by Global Payments in the US
Founded in 1995, Takepayments provides card machines, point-of-sale (POS) systems and online payment solutions to over 75,000 businesses in the UK.
Formerly known as Payzone, the Stockport-based fintech claims to be generating a total turnover of £52.7 million – as per its latest financial statement made up to 30 September 2022 – an increase of £11.9 million from the previous year.
Although the fintech has been majority-owned by private investment firm Grovepoint since 2016, it was revealed in February this year that Global Payments was leading the race for its acquisition, as first reported by Reuters, at a valuation of $250 million.
The acquisition is forecast to enable Global Payments, which is headquartered in Atlanta, to tap a wider merchant base in the UK and further establish its remit in card payment solutions.
The terms of its acquisition of Takepayments have yet to be disclosed. Global Payments, Takepayments and Grovepoint were contacted by FinTech Futures for comment.
