Optimal Payments Plc, a global provider of online payment solutions, has entered an acquisition deal and is about to purchase Skrill Group for an enterprise value of about €1.1 billion. The Skrill Group is one of Europe’s leading digital payments businesses and until recently a Payments’ rival.
Payments Plc covers over 200 countries and territories with over 100 types of payment and multi-currency options. Their entire suite of services, including Netbanx, Netteler, Neovia and Net+, is delivered through the Payment Cloud, which offers unprecedented capability, security and availability to its clients.
Joel Leonoff, the president & CEO of Optimal Payments, has pointed out in his interview with Reuters news agency, that the company is counting on the reopening and re-evolving U.S. gaming market in particular, looking at states like Pennsylvania and California to come online. The new deal will establish Optimal Payments as a “very relevant supplier to the industry”. States such as Nevada, Delaware and New Jersey have already turned to online gambling as a way to boost tax revenue at a time when earnings from land-based casinos have drastically declined.
Optimal Payments’ deal will acquire Sentinel Topco Ltd (also known as Skrill Group) and its units, which are ultimately owned by funds managed by private equity firm CVC Capital, Investcorp Technology Partners and other shareholders. The purchase will be made partly in cash (720 million euros) and partly in newly issued shares valued at 135 million euros. Skrill’s net debt of 256 million euros will round up the price at around 1,1 billion euros. The acquisition deal will leave Sentinel Group Holdings with 7.9 percent stake in the enlarged firm.
Optimal Payments Plc to buy Skrill Group for 1.1 Billion Euros by the end of 2015
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robby8111 7 years ago
You can not really say they are not thinking and caring about their customers. At the very least they could be I thinking how much money they will be making from them or maybe they will only need one account now. Business is business. When businesses grow it is good for the economy, it creates jobs and people have money...
You can not really say they are not thinking and caring about their customers. At the very least they could be I thinking how much money they will be making from them or maybe they will only need one account now. Business is business. When businesses grow it is good for the economy, it creates jobs and people have money to do with whatever they want, like gamble.
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newspiridon 8 years ago
Until now there are not big changes about Skrill and I hope to stay like that. I am very familiar with Skrill and their services and I do not want to see major changes. In my opinion the fees are not big and they are acceptable. They have a very easy site and I hope it remains like that.
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april13 8 years ago
Lets hope for the best. Maybe LCB payment method will be worldwide accepted soon...
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play3r211 8 years ago
I hope that this will not afect my neteller account because I had some problems with skrill when they closed my account for no reason and no expinations.
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CashJo. 8 years ago
Skrill has net debt of 256 million euros? From what? I hope that the new owners will not screw something up with this purchase. I am very happy with Skrill so far... and I am hoping that they will not change to much. Overall a very nice transaction for the owners and now Optimal Payments Plc will own almost all alternative...
Skrill has net debt of 256 million euros? From what? I hope that the new owners will not screw something up with this purchase. I am very happy with Skrill so far... and I am hoping that they will not change to much. Overall a very nice transaction for the owners and now Optimal Payments Plc will own almost all alternative online payment methods... Good for them :))
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albalaha 8 years ago
Undoubtedly, it is the end of Skrill. No enterprise would like to keep two competitive brands together. I have used both and like skrill over neteller for many reasons. God knows what they will do with accounts of skrill. If they can keep both services alive, instead of taking the client base of skrill, I would love that.
Undoubtedly, it is the end of Skrill. No enterprise would like to keep two competitive brands together. I have used both and like skrill over neteller for many reasons. God knows what they will do with accounts of skrill. If they can keep both services alive, instead of taking the client base of skrill, I would love that.
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Armage 9 years ago
Only 1€ billion? My opinion that it's small price for the big company.. but will see what happens.
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Thammavongsa 9 years ago
i don't think it can have some bad point bcoz its 1 less competitor and the buyer
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bruno234 9 years ago
i think it can have some bad point coz its 1 less competitor and the buyer can increase the fee´s, "abusing" of the % of market they have
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pinkxxx 9 years ago
Back in the day all wallets were avaible from all over and when it was ok in US . I had a few they were basically all the same . I think the merge is good and hope they make themselves available to places like Canada and US in the near future. Seems online options for casino play is becoming more and more limited or newer...
Back in the day all wallets were avaible from all over and when it was ok in US . I had a few they were basically all the same . I think the merge is good and hope they make themselves available to places like Canada and US in the near future. Seems online options for casino play is becoming more and more limited or newer options keep popping up. These changes now are so frequent it can become confusing . Would be nice to see a wallet that I can use for online casinos .
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iDark 9 years ago
Nice move By neteller, the biggest concurent will be bought and the master would be Neteller, 1.1 Bln dollars - thats the huge amount. But I hope, Skrill will not increase the taxes after deal wll be made. I like neteller and like skrill also, but how it will look after Neteller takes control all over? Great step, the giant...
Nice move By neteller, the biggest concurent will be bought and the master would be Neteller, 1.1 Bln dollars - thats the huge amount. But I hope, Skrill will not increase the taxes after deal wll be made. I like neteller and like skrill also, but how it will look after Neteller takes control all over? Great step, the giant buys giant and will be mega giant now. Hope to have great news from these two.
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Magic Flowers 9 years ago
I miss skrill option of sending messages from account to phones around the world because of rebranding. Used to talk through msg with overseas friends and family at pretty cheap costs. Now skrill or neteller are the same for me because is harder than ever to win and worry about withdrawal fees.
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leannep 9 years ago
Well Neteller discontinued service to Canada, I think it was sometime around 2007. I finally started getting my Skrill account together after losing my e-mail login info. There IS a way to update an e-mail address with Skrill, turns out. BUT if Neteller buys Skrill, that will be another very broadbased online payment option...
Well Neteller discontinued service to Canada, I think it was sometime around 2007. I finally started getting my Skrill account together after losing my e-mail login info. There IS a way to update an e-mail address with Skrill, turns out. BUT if Neteller buys Skrill, that will be another very broadbased online payment option that will be...gone. My guess is that that loss will be U-Kash's gain, though. Maybe it's time to buy shares in U--Kash. Oh my gosh...flabberghasting, unexpected news, this is. ...More shocking than Zayne Malik leaving One Direction... : D
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mdacic 9 years ago
What a news?! But to be honest I won't be happy if that happens. I love skrill and I use skrill for all my online transaction and online shopping and if this means some changes I am against it. Neteller is not bad but I think that skrill is easier to use and more simple and I love skrill.
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catapultaudio 9 years ago
I have a couple of friends who were left high and dry by Skrill not long ago when they had their accounts closed for supposedly breaching terms and conditions but Skrill were not willing to explain what the problem was or give them their balances, so the money is just sat in Skrill unable to be withdrawn or sent to anybody...
I have a couple of friends who were left high and dry by Skrill not long ago when they had their accounts closed for supposedly breaching terms and conditions but Skrill were not willing to explain what the problem was or give them their balances, so the money is just sat in Skrill unable to be withdrawn or sent to anybody ... I wonder if Neteller will prove any more trustworthy...
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barebones 9 years ago
I am using mostly skrill altough I have them both. But skrill has cheaper withdrawals to bank cars, that's why I like them better. I definitely wasn't expecting this, it seems so odd!
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jade 9 years ago
It looks like even the US may...............I'm not sure what to say. How about, It looks like the US is going to get whatever everyone else gets........... We can be sure of one thing, It will be good for the two payment providers. And you can't really say they are not thinking about their customers. At the very least...
It looks like even the US may...............I'm not sure what to say. How about, It looks like the US is going to get whatever everyone else gets........... We can be sure of one thing, It will be good for the two payment providers. And you can't really say they are not thinking about their customers. At the very least they could be thinking how much money they will be making from them or maybe they will only need one account now. Business is business. When businesses grow it is good for the economy, it creates jobs and people have money to do with whatever they want, like gamble. Personally, IMO, we all need a little sense of humor about EVERYTHING. I wish them well and I hope that one day all US players will be able to open up an account and pay their fees because that will mean that the US has legalized gambling. There are many people out there that take that freedom for granted.
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Efti 9 years ago
Personally I'm relieved it's Neteller buying Skrill rather than the other way around, especially since I can no longer use the latter service for online gaming where I live and wasn't a big Moneybookers fan even when it was my main payment method. Wonder what will happen if customers have accounts at both as I still have...
Personally I'm relieved it's Neteller buying Skrill rather than the other way around, especially since I can no longer use the latter service for online gaming where I live and wasn't a big Moneybookers fan even when it was my main payment method. Wonder what will happen if customers have accounts at both as I still have a few bucks stuck in Skrill that I'd like to transfer over...
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Lootva 9 years ago
All I can say is that the only way end users will benefit is to have more competition, not less...
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Total Raccoon 9 years ago
Yep.. That's true, competition among providers is better for the customer... 1 billion for Skrill, it's not overpaid, knowing the sponsorship deals and the advertisments Skrill get... They have english football leagues under their name even I think!!! It will not be good for the customers if neteller get's Skrill. If they...
Yep.. That's true, competition among providers is better for the customer... 1 billion for Skrill, it's not overpaid, knowing the sponsorship deals and the advertisments Skrill get... They have english football leagues under their name even I think!!! It will not be good for the customers if neteller get's Skrill. If they leave it as it is yes, but knwoing business they will get the money things up like in neteller!
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