Skrill strikes deal to acquire Ukash
Payment processor says acquisition of prepaid voucher provider will make the company a "global force"
Online payment processor Skrill has reached an agreement to acquire prepaid voucher provider Ukash for an undisclosed sum, in a move the firm says will transform the firm into a “global force”.
The acquisition, which is subject to regulatory approvals, will be the second made by Skrill in the prepaid voucher sector, having scooped up paysafecard last year for up to 140m.
Skrill CEO-elect David Sear, who will commence his role in January, said the acquisition would “significantly extend” its footprint in the prepayment market.
“The acquisition of Ukash will significantly extend our reach in the high-growth prepayment market,” Sear said. “We are proud to support both consumers and online businesses with the world’s largest online cash replacement payment method and look forward to serving a combined base of millions of consumers around the world.”
Paysafecard CEO Udo Müller said the takeover would bring together two prepaid technologies with “strong synergies” and will increase the firm’s global presence and open up “new opportunities”.
Skrill is a leading payments service provider within the online gaming industry and supplies payments solutions to the likes of bet365, Betfair and PokerStars.