Skrill Group Caps Acquisition of Ukash, Fortifying Market Penetration

Skrill Group has completed its Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Ukash, a UK-based electronic money system and Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term provider, capping a deal that has been nearly five months in the making, according to a Skrill statement.

This is the second such deal involving Skrill in as many weeks – in late March, Optimal Payments Plc (LSE: OPAY), the group representing the NETELLER payment solution, reported that it would buy Skrill Group (Sentinel Topco Ltd) for a sum of $1.18 billion (€1.1 billion) in a move to expand its online services.

The genesis of the deal was first reported back in November 2014, effectively extending the scope and latitude of Skrill Group’s paysafecard utility. In addition, the acquisition also augment’s Skrill’s position as Europe’s most widely utilized prepaid payment solutions for online purchases.

According to David Sear, Chief Executive Officer (CEO) of Skrill Group in a recent statement on the acquisition, “Ukash is a shining example of British business. This is an exciting acquisition that will considerably extend our reach in the high-growth prepayment market, enabling us to support consumers and online businesses alike with the world's largest online cash replacement payment method."

“I’d like to thank Ukash’s CEO David Hunter, who has been instrumental in the growth of Ukash, which will be integrated with paysafecard. As we move towards our combination with Optimal Payments, paysafecard will continue to be a key part of our strategy and of our offering to our customers,” he added.