Skrill acquires Ukash for undisclosed fee

ukash

Online payment processing operator, has reached a final agreement to acquire pre-paid voucher provider Ukash. The sum of the acquisition was undisclosed by both parties.

Skrill Group stated that the acquisition of Ukash will add scale and reach to its pre-paid unit Paysafecard, which it acquired in 2013 for €140 million. The deal comes just weeks after CVC Capital Partners-backed Skrill appointed former WEVE boss David Sear as its new Chief Executive Officer.

The acquisition sees Skrill increase its product coverage in the prepaid sector, users can buy topped-up paysafecards for shopping online via a network of more than 450,000 distribution outlets across 39 countries.

David Sear, who will become CEO of Skrill in January, comments:

“The acquisition of Ukash will significantly extend our reach in the high-growth prepayment market. We are proud to support both consumers and online businesses with the world’s largest online cash replacement payment method and look forward to serving a combined base of millions of consumers around the world.”

Check Also

BGC: Government must ‘act fast’ and extend furlough scheme

The Betting and Gaming Council (BGC) has demanded that the government extend its furlough scheme …

Mace launches EQ Connect to solve the industry’s ‘single view’ conundrum on identifying risk 

Will Mace, former Director of Innovation for Kindred Group Plc, has launched EQ Connect – …

Real Betis selects Betway as its official shirt sponsor

Betway has secured a new agreement with Spanish top-flight football club Real Betis Balompié to …