Private equity firm CVC Capital Partners is acquiring the majority share of the Skrill Group for a cool €600 million consideration.
“Skrill is a high-quality business that has demonstrated its ability to grow rapidly into a market leading provider of online payments serving the online gaming, gambling, digital media and e-commerce industries,” said Peter Rutland, senior managing partner at CVC Capital Partners. “We are pleased to have the opportunity to invest in Skrill and support its management team as they continue to grow their range of online payment options across the globe.”
As the current owner, Investcorp will continue to a share in the company that generated €200 million in 2012 and maintains the accounts of approximately 35 million customers.
Investcorp took over the company in 2007 for €100 million.