Optimal Payments Plc to buy Skrill Group for 1.1 Billion Euros by the end of 2015

Optimal Payments Plc to buy Skrill Group for 1.1 Billion Euros by the end of 2015 Optimal Payments Plc, a global provider of online payment solutions, has entered an acquisition deal and is about to purchase Skrill Group for an enterprise value of about €1.1 billion. The Skrill Group is one of Europe’s leading digital payments businesses and until recently a Payments’ rival.

Payments Plc covers over 200 countries and territories with over 100 types of payment and multi-currency options. Their entire suite of services, including Netbanx, Netteler, Neovia and Net+, is delivered through the Payment Cloud, which offers unprecedented capability, security and availability to its clients.

Joel Leonoff, the president & CEO of Optimal Payments, has pointed out in his interview with Reuters news agency, that the company is counting on the reopening and re-evolving U.S. gaming market in particular, looking at states like Pennsylvania and California to come online. The new deal will establish Optimal Payments as a “very relevant supplier to the industry”. States such as Nevada, Delaware and New Jersey have already turned to online gambling as a way to boost tax revenue at a time when earnings from land-based casinos have drastically declined.

Optimal Payments’ deal will acquire Sentinel Topco Ltd (also known as Skrill Group) and its units, which are ultimately owned by funds managed by private equity firm CVC Capital, Investcorp Technology Partners and other shareholders. The purchase will be made partly in cash (720 million euros) and partly in newly issued shares valued at 135 million euros. Skrill’s net debt of 256 million euros will round up the price at around 1,1 billion euros. The acquisition deal will leave Sentinel Group Holdings with 7.9 percent stake in the enlarged firm.
  • You can not really say they are not thinking and caring about their customers. At the very least they could be I thinking how much money they will be making from them or maybe they will only need one account now. Business is business. When businesses grow it is good for the economy, it creates jobs and people have money to do with whatever they want, like gamble.
  • Until now there are not big changes about Skrill and I hope to stay like that. I am very familiar with Skrill and their services and I do not want to see major changes. In my opinion the fees are not big and they are acceptable. They have a very easy site and I hope it remains like that.
  • Lets hope for the best. Maybe LCB payment method will be worldwide accepted soon...
  • I hope that this will not afect my neteller account because I had some problems with skrill when they closed my account for no reason and no expinations.
  • Skrill has net debt of 256 million euros? From what? I hope that the new owners will not screw something up with this purchase. I am very happy with Skrill so far... and I am hoping that they will not change to much. Overall a very nice transaction for the owners and now Optimal Payments Plc will own almost all alternative online payment methods... Good for them :))
  • Undoubtedly, it is the end of Skrill. No enterprise would like to keep two competitive brands together. I have used both and like skrill over neteller for many reasons. God knows what they will do with accounts of skrill. If they can keep both services alive, instead of taking the client base of skrill, I would love that.
  • Only 1€ billion? My opinion that it's small price for the big company.. but will see what happens.
  • i don't think it can have some bad point bcoz its 1 less competitor and the buyer
  • i think it can have some bad point coz its 1 less competitor and the buyer can increase the fee´s, "abusing" of the % of market they have
  • Back in the day all wallets were avaible from all over and when it was ok in US . I had a few they were basically all the same . I think the merge is good and hope they make themselves available to places like Canada and US in the near future. Seems online options for casino play is becoming more and more limited or newer options keep popping up. These changes now are so frequent it can become confusing . Would be nice to see a wallet that I can use for online casinos .

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