Singaporean fintech startup Senjō Group acquires UK payment service Kalixa

Singapore-based fintech investment firm and global payments operator Senjō Group announced that it has acquired the UK's payment services Kalixa from GVC Holdings for EUR29 million payable in cash on completion, subject to a completion accounts adjustment. The total consideration is capped at €35.5 million.

“The acquisition of Kalixa fits well within Senjō Group’s strategy of building out a global payments ecosystem. We believe Kalixa will be complementary to our existing portfolio of payments businesses around the world and will create a combined group that leverages the best of both companies. This transaction will provide Senjō with a significant bridgehead in Europe supported by a strong Kalixa management team. In return, Senjō Group will provide Kalixa with access to a network in Asia and the benefits of being a part of a global specialist payments operator. We look forward to working with the Kalixa team,” Gavin Lock, Chief Operation Officer of Senjō, said in a release.

The completion of the transaction is subject to various domestic and international regulatory approvals and is expected to close during the first quarter of 2017. Post the completion, Kalixa will continue carrying out to process payments for GVC and its customers.

Kalixa payments group enables consumers, small business, and merchants to make and accept payments. It processes transactions worth €11 billion annually for more than 800 merchants and supports 100 of the world’s most popular payment methods. On the other hand, fintech startup Senjō offers innovative and disruptive solutions in global electronic payments, trade finance, and e-commerce.