SG-based Senjo to acquire GVC’s payment processing biz Kalixa for $30.3m

Singapore based payments operator and fintech investment firm Senjō Group will acquire London based sports betting company GVC Holdings PLC’s payments processing arm Kalixa Group for $30.34 million.

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.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.