EML Payments (ASX:EML) acquires Prepaid Financial Services in Europe - Sequoia Direct

11NovNovember 11, 2019

EML Payments (ASX:EML) acquires Prepaid Financial Services in Europe

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EML Payments (ASX:EML) has entered into a binding agreement to acquire PFS for an upfront enterprise value of $423 million plus an earn-out component of up to $103 million.

EML to become one of the largest FinTech enablers in digital banking and prepaid globally, expecting to process $18 billion of gross debit volume (GDV) in FY20.

This move further diversifies EML’s customer, product and geographic footprint – providing entry into eight new markets and further penetration into UK, France and Spain.

Shares in EML Payments (ASX:EML) closed flat at $3.83 on Friday.

Copyright 2019 – Finance News Network

Source: Finance News Network

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