On Friday 13th February 2015, UPG plc completed its second acquisition in less than 12 months, this time with Berlin based payments company, PayCo GmbH.
PayCo was founded in 2010 with the vision to launch a sophisticated full-service that allows online retailers to outsource the entire online payment process. And this is exactly what the PayCo team has done.
The PayCo management team is made up of seasoned, industry specialists, some of whom were involved in shaping the way online payments are processed across the internet. It’s their skills and expertise that have contributed to the revolutionary solution offered by PayCo today.
The acquisition is a smart move for both companies. PayCo’s solution complements the UPG business perfectly and the collaboration will result in an enhanced offering for merchants across the UK and Europe. The combined UPG & PayCo proposition will significantly increase the value delivered to its customers and accelerate the growth of the enlarged UPG business.
UPG CEO, Miles Carroll commented;
“PayCo brings a new dimension to the future of UPG, with the introduction of an immensely strong European offering and a massive range of alternative payment methods to our platform. This is another big step for UPG, with the combined strength, capability and expertise of PayCo and our previous capability, we are well on our way to becoming the payment company of choice for business everywhere."