Joel Leonoff – Optimal governance seeks further acquisition targets

Joel Leonoff
Joel Leonoff

Having announced a revenue up lift of 40% to $223 million (£144 million), combined with adjusted corporate profits of $37.3 million (£24 million) for its H1 2015 performance.

Optimal Payments CEO Joel Leonoff has stated that company governance is on the lookout for its next target, as Optimal aims for entry into the London FTSE 250.

Having completed its €1.1billion reverse takeover of competitor Skrill Group at the start of August, Optimal has become the biggest payment processor for the online gaming and sports betting sectors.

As Optimal integrates Skrill services to its growing payments portfolio, CEO Leonoff has outlined corporate acquisition as a key strategy to the payment provider’s future growth strategy. Leonoff outlined to UK news sources that with the Skrill acquisition the company would generate enough revenues to raise further debt for future acquisitions.

“As we come out of the tail-end of the integration with Skrill, we want to be ready to look at other companies that we feel are accretive to our shareholders and add a lot of value to our business,” Leonoff stated

“As we approach $1bn in revenue, we need to find companies that can move the dial a little bit and make sure they add a material amount of revenue and profit.”

Optimal hopes to secure €40 million in cost synergies with its integration of Skrill Group services. Optimal is in the process moving from the London AIM, to the bigger London FTSE market.  

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