Global Payments, a prominent player in the US payment technology sector, has made a strategic move by acquiring Takepayments, a UK-based provider of card payment solutions, in a transaction whose financial details were not disclosed. The acquisition, finalized according to a Companies House filing, underscores Global Payments’ commitment to bolstering its footprint in the UK’s payment solutions market.
Founded in 1995 and headquartered in Stockport, Takepayments specializes in offering card machines, point-of-sale (POS) systems, and online payment solutions to a substantial client base of over 75,000 businesses across the UK. Formerly known as Payzone, the company reported a robust turnover of £52.7 million in its latest financial statement up to September 2022, marking a significant increase from the previous year’s £40.8 million.
Global Payments, based in Atlanta, Georgia, views this acquisition as a strategic opportunity to expand its reach within the UK merchant community and reinforce its capabilities in providing comprehensive payment technology solutions. The move comes amid Global Payments’ broader strategy to enhance its international presence and strengthen its service offerings globally.
Geoffrey Barraclough, a payments industry expert, commented on the acquisition, highlighting the potential synergies between Global Payments’ existing operations and Takepayments’ established market presence. He noted that integrating Takepayments’ extensive customer base into Global Payments’ ecosystem could open new avenues for cross-selling and service expansion, particularly in the realm of integrated payment solutions.
While the exact terms of the acquisition remain undisclosed, the deal signifies a pivotal moment for both companies as they navigate the evolving landscape of digital payments and strive to meet the growing demands of small and medium-sized enterprises (SMEs) for seamless and innovative payment solutions.
Global Payments, listed on the Nasdaq, has demonstrated a commitment to growth through strategic acquisitions and partnerships, positioning itself as a leader in the global payments industry with quarterly revenues reaching approximately $2.5 billion.
For further insights into the implications of this acquisition and to understand its strategic implications for Global Payments and Takepayments, both companies have been approached for additional comments and details.
This acquisition is expected to strengthen Global Payments’ foothold in the UK market and pave the way for future innovations in payment technology tailored to meet the evolving needs of businesses worldwide.
Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice.