Casco Financial Services Limited
Acquired: 19 November 2019
Consideration: an initial sum of £1,725,000 plus a maximum deferred consideration of £2,000,000 on the achievement of certain performance measures
Reason for acquisition: broadens the Corporate International Payments business of the group and accesses a B2B infrastructure platform.
Hermex International Limited
Acquired: 8 August 2019
Consideration: £2,000,000
Reason for acquisition: HermexFX offers international payment services to a predominantly corporate client base through a personalised service offering.
City Forex Limited
Acquired: 20 February 2018
Consideration: £6,000,000 + working capital adjustments of £3,216,552
Reason for acquisition: extracting increasing economies of scale whilst adding product innovation and the acquisition of an enhanced deal recording platform
Spectrum Financial Group Limited
Acquired: 25 August 2017
Consideration: £15,000,000 through £12,817,501 in cash and the balance through the issue of 3,762,930 shares
Reason for acquisition: to move into banking market, primarily through its ownership of CardOneBanking
Q-Money Limited
Acquired: 19 January 2017
Consideration: an initial sum of £425,000 plus maximum deferred consideration of £825,000 on the achievement of certain performance milestones
Reason for acquisition: e-Money licence allowing the group to launch a card via Mastercard Prepaid issuing licence and to enhance the Group's payment infrastructure through direct membership of other payments networks
BROWSE