Multinational sports betting and gaming group GVC Holdings is selling Kalixa Payments Group and its subsidiaries to privately held payments operator and investment firm Senjō Group for $30m.
Completion accounts adjustments could take the final figure closer to $37m.
Kalixa Group provides card acceptance acquiring, aggregation and payment processing to GVC and other corporate firms. It will continue to serve GVC under an existing contract.
Still subject to regulatory approval, the deal is expected to be completed in Q1 2017.
Vienna-founded Kalixa generated €22.7m in revenue for the financial year ended 31 December 2015 and a loss before interest and tax of €7m.
The sale is expected to result in a modest book loss of around €4m in 2017 for GVC, which it is anticipated will be treated as an exceptional item.
The company says stability and long-term support of its new Singapore owner will allow it to develop its platform and portfolio.
Senjō Group COO Gavin Lock said: “Kalixa is an excellent business backed by a strong team. Buying Kalixa fits well with our strategy of building a global payments ecosystem.
“We believe Kalixa will be complementary to our existing portfolio of payments businesses around the world.
“In return we will provide Kalixa, its employees and customers with the benefits of being a part of a global specialist payments operator.”
Kalixa CEO Kamran Hedjri said: “We look forward to working closely with Senjō Group and benefiting from their global network and footprint to increase our global reach and enhance services for our customers and partners.
“Our innovative technology and expertise in acquiring, issuing, aggregation, gateway and wallet combined with Senjō’s payment network and know-how will help us accelerate the growth of our business.”
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