Publications
Partners
London - Online money transfer company Optimal Payments said it would buy two US-based online payments firms for $225m to expand its operations in North America, sending its shares up 8.6%.
Optimal said it would buy California-based TK Global Partners LP for $210m, with $150m in cash and $60m worth of shares.
Optimal also said it would pay up to $15m in cash to acquire Global Merchant Advisors, a Los Angeles-based company.
"Both businesses are US based, a major focus for Optimal given the opening up of that market for their existing businesses, and are across a range of verticals," Barclays analysts said in a note.
Both acquisitions are expected to close in the third quarter.
TK Global is doing business as Meritus Payment Solutions.
Shares in Optimal Payments were up 8.6% at 434.50 pence in early trading, making the stock one of the top percentage gainers on the London Stock Exchange.
Optimal said it would buy California-based TK Global Partners LP for $210m, with $150m in cash and $60m worth of shares.
Optimal also said it would pay up to $15m in cash to acquire Global Merchant Advisors, a Los Angeles-based company.
"Both businesses are US based, a major focus for Optimal given the opening up of that market for their existing businesses, and are across a range of verticals," Barclays analysts said in a note.
Both acquisitions are expected to close in the third quarter.
TK Global is doing business as Meritus Payment Solutions.
Shares in Optimal Payments were up 8.6% at 434.50 pence in early trading, making the stock one of the top percentage gainers on the London Stock Exchange.
