Paysafe Agrees to Acquire Viafintech
Digital commerce solutions provider Paysafe (PSFE) – Get Report has agreed to acquire private German fintech company Viafintech in an all-cash transaction.
The sale price was not disclosed in Paysafe’s Sunday statement.
The transaction calls for Berlin-based Viafintech’s shareholders – majority owner Glory Ltd., 25%-owner Grenke AG, and the company’s founders Sebastian Seifert, Achim Bonsch and Andreas Veller – to sell their shares to Paysafe.
Grenke said in its Sunday statement that it was selling its 25% stake to Paysafe in the “low double-digit million euro range.”
Viafintech, which operates under the brands Barzahlen/Viacash and Viacash, offers the largest bank independent payments infrastructure in Germany, Austria and Switzerland, allowing for an alternative to the traditional banking structure.
Paysafe enables businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallets, e-Cash and open banking solutions. The London-based financial services firm offers 70 payment types in over 40 currencies around the world.
Paysafe’s acquisition of Viafintech follows its Aug. 2 purchase of Peruvian alternative payments platform PagoEfectivo, as well as its $441 million purchase of Aventura, Fla.-based e-Commerce payments platform SafetyPay on Monday.
The company went public in March in a special purpose acquisition, or blank-check, deal with Foley Trasimene Acquisition.
The company last week missed a third-quarter guidance, as it said it expects revenue between $360 million and $375 million. Analysts had been calling for revenue of $384.4 million.
Paysafe reported a second-quarter profit of 1 cent a share on revenue of $384 million. Earnings matched analysts expectations while Paysafe’s revenue topped forecasts of $378.5 million.
The company’s shares on Friday closed up 2.2% to $8.24. The stock rose 1 cent after hours.
