SafeCharge to acquire CreditGuard

SafeCharge is set to acquire rival payment services provider CreditGuard after striking a deal worth up to $8.4 million (€6.8 million).

The agreement comprises an initial cash consideration of $8 million and deferred consideration capped at $400,000, subject to customary closing adjustments.

Established in 1998, Israeli company CreditGuard offers various payment solutions and white-label technologies with a secure payments gateway to a range of businesses.

The deal, which is expected to complete in January, will enable SafeCharge to expand its services into Israel.

David Avgi, chief executive of SafeCharge, said: “CreditGuard is highly regarded within the payments industry, with a solid portfolio of clients across multiple market sectors and a vast knowledge and expertise in Enterprise IT infrastructures, networks and security.

“This enables us to fast-track our entry into new verticals and take a strong position in the exciting Israeli market.”

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