Worldline has reinforced its merchant services business in Eastern Europe with the acquisition of a majority stake in Czech online payments processor GoPay.
GoPay, which generated EUR7 million of revenue in 2019, serves more than 9000 e-commerce sites in Central Europe including Czech Republic, Slovakia and Poland. As well as strengthening Worldline's online collecting capabilities in the fast-growing Eastern European market, the acquisition also reinforces the company's market position in the Czech Republic and its partnership with Komercni Banka.
Under the terms of the agreement, Worldline will take over 53% of the stake in GoPay and is entitled to acquire the remaining shares in 2022.
The announcement forms part of Worldline’s M&A strategy and follows the recent deal to acquire French peer Ingenico for EUR7.8 billion, creating a European payments powerhouse and the fourth-largest player in payment services worldwide. The transaction is expected to close in Q3 2020 as previously announced.
Gilles Grapinet, chairman and CEO of Worldline says: “Worldline has made significant progress in its M&A strategy roadmap by signing an agreement for the bolt-on acquisition of GoPay, a true specialist in online payments in Eastern Europe. Our resilient business model and our adaptability enable us to pursue our roadmap despite uncertainties linked to the COVID-19. I am looking forward to welcoming 45 new payment experts in the Czech Republic.”