Equniti to acquire Transglobal Payment Solutions
Equiniti has exchanged contracts to acquire TransGlobal Payment Solutions, whose platform is used by Equiniti International Payments, the group’s foreign exchange payments business, launched in 2011.
The transaction follows a series of technology-focussed acquisitions by Equiniti, including the acquisitions in 2014 of Invigia, which provides complaints, case and feedback management software and Pancredit, which provides loan administration and origination platforms.
Guy Wakeley, chief executive of Equiniti, said: “Equiniti International Payments is experiencing strong growth and has an exciting pipeline of prospects. The acquisition of TransGlobal will strengthen our market offering by transferring ownership of the technology and future development to Equiniti, enabling us to drive further growth. It also supports the group strategy of acquiring and developing innovative technology platforms in the FinTech space.”
The acquisition is subject to certain procedural matters that are expected to be concluded in the next six weeks. The deal will provide an exit for Enterprise Ventures, which first backed TransGlobal following its launch in 2007 and provided second round funding in 2010, investing from the Coalfields Funds.