SafeCharge snaps up 3V Transaction

SafeCharge, a leading payment services provider in the igaming industry, has announced its second takeover in less than two weeks by striking a deal to acquire technology provider 3V Transaction Services.

SafeCharge expects to complete the 100% takeover of 3V in January 2015.

The deal will be worth €14.5 million ($17.7 million), of which €11.6 million is payable on completion before the outstanding amount is payable over three years.

Earlier this month, SafeCharge announced a deal to acquire rival payment services provider CreditGuard in a deal worth up to $8.4 million (€6.8 million).

Established in 2004, 3V specialises in providing tools for issuing, processing and managing pre-paid physical and virtual card programmes.

SafeCharge described the agreement as “strategically significant” in that 3V will become the foundation of the company’s card-issuing activities through its new Issuing Division.

“The acquisition marks a further milestone in the execution of SafeCharge’s strategic plan to enter new product verticals and deliver innovative payment technologies,” SafeCharge chief executive David Avgi said.

“3V enables us to gain fast-track entry into the rapidly expanding prepaid card issuance vertical and will provide the foundation of what will become a significant new division within SafeCharge.”

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