Skrill Group has completed its acquisition of Ukash, concluding the deal that was announced in November 2014.

Ukash

The acquisition extends the scale and reach of Skrill Group’s paysafecard, which will, in combination with Ukash, now be able to further expand digital payments across both established and emerging markets.

David Hunter, who has been Ukash CEO for five years, is to step down following completion of the sale.

David Sear, CEO of Skrill Group, said: “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 David Hunter, who has been instrumental in the growth of Ukash.”

The move follows last week’s news that Optimal Payments is set to acquire Skrill.