The acquisition of SEPAGA, a Cypriot electronic payments company, by the consortium of Galatariotis Financial Holdings Limited, Panagiotis Ioannou, and Giorgos Petrakidis has been completed.
Both Ioannou and Petrakidis are working for Microsoft. Ioannou is the Regional Director of the Public Sector for Multi-Country CEE, whereas Petrakidis is the Director of Business Development. Now, both of them have joined the Board of SEPAGA.
The consortium inked the deal of SEPAGA acquisition last April. However, the financial terms of the deal are unknown.
SEPAGA is licensed and regulated by the Central Bank of Cyprus. It offers prepaid cards and e-wallet accounts, along with other services like currency conversions.
The acquisition was sealed when the company is growing its customer base in Europe, Asia, and other parts of the globe.
“Everyone in the Sepaga team is excited about the completion of the acquisition and the new Board of Shareholders and Directors, as Simos Galatariotis (of Galatariotis Financial Holdings Limited), Panagiotis Ioannou and Giorgos Petrakidis are among the best and most experienced professionals in the sectors of technology and entrepreneurship,” Elena Kontou, the CEO of SEPAGA, said in a statement (translated from Greek).
New Owners with Aligned Interests
The expertise of the new owners of the company is going to help the company to grow further. Additionally, the company is considering plans for expanding financial solutions for businesses and individuals.
“They are people with experience in managing teams, developing culture and insight that combined with the strategy and experience of the Financial Services team, we will be able to achieve our vision faster to evolve electronic payments in the business world,” Kontou added.
“We would like to thank our customers and partners for their incredible support and cooperation over the past six years and assure them that we will continue to evolve and offer excellent quality services to the business world.”
