Manx-based Optimal Payments says it’s planning to buy out its rival for just over ?800 million.
The Douglas-registered online payment processor is set to acquire Skrill in a reverse takeover deal.
The announcement marks more consolidation in the sector – last year Skrill bought prepaid voucher company Ukash, while Optimal snapped up US-facing processors Meritus Payment Solutions and Global Merchant Advisors.
Optimal Chief Executive Joel Leonoff says the acquisition will create a global tech champion in digital payments and greatly accelerate his company’s strategic plan.
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