SafeCharge International Group to Acquire CreditGuard for $8 Mln
- The company acquires a level 1 certified payment service provider with white labeling capabilities and a highly secure payment gateway environment and reconciliation solutions brining annual revenues of $2.9 million.
One of the major payment providers to the foreign exchange industry, publicly listed SafeCharge International Group (LON:SCH), announced in a regulatory filing today its acquisition of the international provider of 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 services, Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and IT solutions for online businesses, CreditGuard Ltd.
The company will finance its acquisition from its cash coffers for a total of $8 million plus an additional deferred consideration summing up to $0.4 million, subject to customary closing adjustments. The deal is expected to conclude in January 2015.
According to the company’s announcement, “The acquisition of CreditGuard marks a further milestone in the execution of SafeCharge's strategic plan aimed at entering new and rapidly growing markets and sectors bringing with it a portfolio of clients from sectors including travel, insurance, telecoms and government.”
CreditGuard was established in 1998, and is a certified payment services provider. The firm possesses white-labelling technologies and reconciliation solutions allowing it to deliver electronic payment processes to enterprises and SMEs, including major financial institutions and airline companies, among others.
The firm’s audited accounts for the financial year ended December 31, 2013, show revenues of $2.9 million (NIS 11.5 million) and profit before tax of $0.2 million (NIS 0.8 million).
One of the major payment providers to the foreign exchange industry, publicly listed SafeCharge International Group (LON:SCH), announced in a regulatory filing today its acquisition of the international provider of 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 services, Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and IT solutions for online businesses, CreditGuard Ltd.
The company will finance its acquisition from its cash coffers for a total of $8 million plus an additional deferred consideration summing up to $0.4 million, subject to customary closing adjustments. The deal is expected to conclude in January 2015.
According to the company’s announcement, “The acquisition of CreditGuard marks a further milestone in the execution of SafeCharge's strategic plan aimed at entering new and rapidly growing markets and sectors bringing with it a portfolio of clients from sectors including travel, insurance, telecoms and government.”
CreditGuard was established in 1998, and is a certified payment services provider. The firm possesses white-labelling technologies and reconciliation solutions allowing it to deliver electronic payment processes to enterprises and SMEs, including major financial institutions and airline companies, among others.
The firm’s audited accounts for the financial year ended December 31, 2013, show revenues of $2.9 million (NIS 11.5 million) and profit before tax of $0.2 million (NIS 0.8 million).