GoPay manages online payments for nearly 10,000 e-shops in the Czech Republic
Worldline, a French payments and transaction services provider, has completed the previously announced 53% stake acquisition in GoPay, an online collecting payment services provider in the Czech Republic.
The acquisition was announced by Worldline in April this year.
The company said that through the deal it has seized an opportunity to develop online collecting activity in the fast-growing Eastern European market.
In addition, the acquisition is expected to allow it to enhance its local expertise in digital go-to-market.
With a workforce of 45, GoPay manages online payments for nearly 10,000 e-shops in the Czech Republic. It also has a presence in Slovakia, Poland and Hungary.
The Czech frim generated €7m in revenues last year and operating margin before depreciation and amortization (OMDA) was nearly €2m.
Worldline chairman and CEO Gilles Grapinet said: “I am very happy to welcome GoPay in the Worldline Group, which will significantly expand our online payment capabilities in the fast growing Eastern European markets and strengthen our existing relationship with Komercni Banca.”
GoPay’s double-digit growth to benefit Worldline
GoPay is claimed to have had a double-digit growth and is expected to contribute significantly to Worldline’s position in the Czech Republic and its partnership with Komercni Banka.
GoPay founder and CEO Pavel Schwarz said: “Together with the GoPay team, we are proud to be part of the Worldline family. This will enable us to enlarge our footprint in the region even faster and further develop our products and services. I strongly believe our customers will benefit from this new partnership.”
Worldline holds a right to acquire the remaining stake in the Czech firm in 2022.
In February, the European payments and transactional services provider agreed to acquire French payment services company Ingenico in a stock-cum-cash deal worth €7.8bn.