The acquisition amount is €29 million (US$30 million) in cash

Singapore-based global payments operator and fintech investment firm Senjō Group has acquired UK-based digital payments company Kalixa for the sum of €29 million (US$30 million) in cash. The deal was part of an agreement with online gaming company GVC holdings PLC, which owns Kalixa.

The acquisition will allow Senjō Group to extend its reach into European markets. For Kalixa, the deal enables it to leverage on Senjō Group to broaden its network in Asia, as well as other regions within the global payments company’s portfolio.

The transaction is expected to be completed by Q1 2017.

“The acquisition of Kalixa fits well within Senjō Group’s strategy of building out a global payments ecosystem. We believe Kalixa will be complementary to our existing portfolio of payments businesses around the world and will create a combined group that leverages the best of both companies,” said Gavin Lock, Chief Operation Officer, Senjō, in an official press statement.

Currently, Kalixa processes transactions worth €11 billion (US$11.5 billion) annually for more than 800 merchants across verticals including e-commerce, gaming, financial services and public transport. It also supports 100 widely used payment methods. Last year, it generated a total of €27 billion (US$28.2 million).

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Image Credit: Senjō Group

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