Optimal Payments has confirmed that it has secured the relevant approval from the UK’s Financial Conduct Authority (FCA) to finalise its previously announced acquisition of rival online payment provider Skrill.
As reported by iGaming Business, Optimal confirmed in March of this year that it had struck a deal to acquire Skrill from Sentinel Group Holdings.
Having stated last month that it expected the deal to be completed by the end of July, Optimal has now confirmed that it has secured approval from the FCA to go ahead with the deal.
In a statement confirming the news, Optimal said that the agreement is worth an enterprise value of approximately €1.1 billion ($1.2 billion), with its directors stating that the deal will be both “transformational” and “value enhancing” for the firm and its shareholders.
The acquisition is now due to go ahead on August 10.
Meanwhile, Optimal has also announced that Stephen Shaper is to exit his role as a non-executive director at the firm with immediate effect.
Shaper, who will also step down from Optimal’s board, will depart the company, having served in the role since 2012.
Optimal will now begin an immediate process to replace Shaper.
Joel Leonoff, president and chief executive if Optimal, said: “Steve has a long history with Optimal as he served as a board member on the earliest iteration of the business, Surefire Commerce.
“Over the years Steve has become a mentor, friend and trusted advisor to the executive team. We wish Steve the best of luck in his future endeavours and continued success in his pursuits.”
source : www.igamingbusiness.com