In an announcement on Monday, Senjo said it had entered into an agreement with GVC for the acquisition for which the payment will be made in cash, subject to a completion accounts adjustment. It also added that the total consideration is capped at $37.14 million.
Kalixa is one of the leading providers of payment services in the world and enables consumers, small business and merchants to make and accept payments. The company processes transactions worth $11.51 billion annually for more than 800 merchants and supports 100 of the world’s most popular payment methods.
With offices in London and Vienna, Kalixa has innovative wallet and issuing technologies and operations as well.
Privately held Senjō recently also announced of $1.2 million investment and an additional $20 million trade finance in Tjaara Pte. Ltd, a Singapore-based B2B service.
“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 Senjō with a significant bridgehead in Europe supported by a strong Kalixa management team,” said Senjo COO Gavin Lock.
He added that in return Senjō Group will provide Kalixa with access to a network in Asia and the benefits of being a part of a global specialist payments operator.
According to the announcement, the completion of the transaction is subject to a number of domestic and international regulatory approvals but is expected to close during the first quarter of 2017.Daniel Stewart & Company Plc, Linklaters LLP and BTG Financial Consulting are Senjō Group’s advisers for the transaction.
Moreover, Kalixa will continue to process payments for GVC and its customers post-completion.