July 21 (SeeNews) - US financial technology company GreenBox POS said it has agreed to acquire Bulgarian regulated electronic money institution Transact Europe Holdings for 30 million euro ($35.3 million) in cash.
The acquisition will allow GreenBox to expand its offerings, including merchant accounts, payment accounts, FX services and a host of other services to prospective European clients, the buyer said in a press release published earlier this week.
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Established in 1998, Transact Europe provides complete payment by offering acquiring, payment and prepaid services, serving hundreds of clients. The Sofia-headquartered company is a principal level member of Visa, a worldwide member of MasterCard and a principal member of China UnionPay. The business expects to book more than 5 million dollars in EBITDA in 2021.
“Our licences and infrastructure combined with GreenBox’s suite of solutions, global strategy and technology platform will create a power synergy that can quickly scale in the European market,” Transact Europe CEO Vassil Klaklov noted in the statement.
($=0.8506 euro)