In a strategic move to bolster its international presence, Global Payments has finalized the acquisition of UK-based payments firm Takepayments for a reported value exceeding $250 million. This acquisition marks Global Payments’ continued commitment to expanding its reach and capabilities in the global payments landscape.
Atlanta-headquartered Global Payments, a leader in payment technology and services, has secured majority ownership of Takepayments, based in Stockport, UK. The acquisition is poised to enhance Global Payments’ strategic position by leveraging Takepayments’ extensive network and client base of over 75,000 merchants across the UK.
Geoffrey Barraclough, a payments industry expert, highlighted the significance of this acquisition, stating, “Global Payments gains a robust distribution channel into UK small businesses, paving the way for cross-selling opportunities to its extensive customer base.” He emphasized the potential synergies between Global Payments’ existing portfolio, including last year’s acquisition of EVO Payments, and Takepayments’ established market presence.
Takepayments, formerly known as Payzone UK, specializes in providing comprehensive payment solutions tailored to small businesses, encompassing card machines, point-of-sale systems, and online payment gateways. Its strategic partnership with Barclays underscores its commitment to delivering reliable and secure payment processing services.
According to recent filings with Companies House, Takepayments reported a significant revenue increase, reaching £52.7 million in 2022, up from £40.8 million the previous year. This growth trajectory underscores Takepayments’ strong market position and operational resilience amidst evolving industry dynamics.
Global Payments’ acquisition strategy aligns with its broader goals of enhancing service offerings and market penetration in key global markets. The company’s robust financial performance, with revenues surpassing $2.48 billion in the last quarter alone, reflects its strong growth trajectory and operational agility in the competitive payments sector.
Looking ahead, Global Payments remains focused on driving innovation and delivering value-added solutions to its expanding customer base. The acquisition of Takepayments represents a strategic milestone in its journey to strengthen market leadership and expand its footprint across diverse geographic regions.
With competition intensifying in the payment solutions space, Global Payments aims to capitalize on synergies and transform Takepayments into a software-led sales organization. This strategic pivot underscores Global Payments’ commitment to adapting to market dynamics and meeting evolving customer expectations in an increasingly digital and integrated payment ecosystem.
As Global Payments continues to explore growth opportunities, including potential strategic partnerships and acquisitions, the company remains poised to navigate complexities and deliver sustainable value to stakeholders worldwide.
