Online payment specialist SafeCharge has acquired 3V Transaction Services for €14.5m.
€11.6m is payable on completion – which is expected in January - with the balance to be paid over three years.
The acquisition is strategically significant for SafeCharge in that 3V will become the foundation of SafeCharge's card-issuing activities through its new issuing division.
David Avgi, SafeCharge's chief executive, said: "The acquisition marks a further milestone in the execution of SafeCharge's strategic plan to enter new product verticals and deliver innovative payment technologies.
“3V enables us to gain fast-track entry into the rapidly expanding prepaid card issuance vertical and will provide the foundation of what will become a significant new division within SafeCharge."
