Innova Capital has agreed to buy PayPoint Romania from PayPoint plc. No financial terms were disclosed. The deal is expected to close on March 31, 2021. PayPoint Romania is a consumer payments operator in Romania.
Innova Capital, a leading private equity firm operating from Poland, has agreed to buy PayPoint Romania from LSE-listed PayPoint plc. The sale is subject to competition and regulatory approvals, as well as other conditions precedent, and therefore completion is anticipated to take place on 31 March 2021.
– We are delighted to acquire a respected market leader in the bill payments segment on the lucrative Romanian market. Supported by easy access to its terminals, effective relationships with retailers and reliable services, the company is a preferred local brand and trusted partner to utilities and service providers. By leveraging our experience and know-how in payment processing and working closely with company management, we want to support PayPoint Romania’s growth and expand its portfolio of services. PayPoint Romania is a perfect base to develop further payment related services which allow clients access to even safer, quicker and easier payments – said Krzysztof Kulig, Senior Partner at Innova Capital.