UK FinTech PayPoint is acuiring two new firms for £70mn.
In Brief:
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PayPoint is a popular payments business in the UK, offering a solution for paying bills.
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It will buy card payments business Handepay and payment terminals business Merchant Rentals.
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Both companies are already closely connected, sharing an address.
What does this mean?
The firms says that in acquiring the two businesses it will create a combined national card payments business that operates across over 30,000 SMEs. The deal should go through at the beginning of next year, subject to regulatory approval.
