Eire-based digital banking and cost options supplier CR2 has agreed to be acquired by Morocco-based Hightech Fee Techniques (HPS).
The transaction will strengthen HPS’s worth proposition in French-speaking markets in Africa and assist the corporate increase into English-speaking Africa and Australia.
CR2 made its Finovate debut at FinovateFall 2014 in New York.
Irish digital banking and cost options supplier CR2 has agreed to be acquired by Morocco’s Hightech Fee Techniques (HPS). The transfer will bolster HPS’s digital banking and cost capabilities and consolidate the corporate’s standing as a frontrunner within the African market, particularly in its Francophone areas. The acquisition additionally will assist HPS increase in English-speaking Africa and Australia as a result of CR2’s power in these markets. Phrases of the acquisition weren’t instantly obtainable.
“We’re happy to be becoming a member of Abdeslam and the group at HPS,” CR2 CEO Fintan Byrne stated in a press release. “Collectively, we share a wealth of expertise, a ardour for innovation, and a relentless concentrate on buyer success.” Byrne added that the acquisition aligns with CR2’s world enlargement objectives. “With extra scale comes much more alternative to take a position and innovate. That is an thrilling time to be within the digital banking and funds expertise sector,” Byrne stated.
A Finovate alum for greater than a decade, CR2 presents digital banking and cost options by way of its flagship platform, BankWorld. The platform provides greater than 90 banks in 50+ international locations a complete suite of digital banking, digital pockets, and cost functionalities. HPS will mix CR2’s expertise with its PowerCARD suite of cost options which is utilized by 500+ establishments in additional than 95 international locations. HPS additional famous that CR2 will “contribute materially” to its monetary backside line, post-acquisition. CR2 generated revenues of €23.8 million within the 12 months main as much as June 2023.
“At this time marks a major milestone within the continued development of HPS,” HPS Co-Founder and CEO Abdeslam Alaoui Smaili stated. “CR2 has a differentiated and thrilling functionality set, which is a powerful match for HPS and provides vital depth and breadth to our platform.”
Based in 1995, HPS is a multinational company that gives cost software program and options for issuers, acquirers, card processors, impartial gross sales organizations (ISOs), retailers, cell community operators (MNOs), and extra. HPS is headquartered in Casablanca, Morocco, and has been a member of the Casablanca Inventory Trade since 2006.
Headquartered in Dublin, Eire, with places of work in Dubai, Jordan, India, and Australia, CR2 most not too long ago demonstrated its expertise at FinovateFall 2014 in New York. Earlier this 12 months, the corporate introduced a strategic partnership with U.Okay.-based core banking and monetary options supplier Fimple.
Photograph by Luciann Images
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