EML Payments (ASX:EML)
has entered into a binding agreement to acquire PFS for an upfront enterprise value of $423 million plus an earn-out component of up to $103 million.
EML to become one of the largest FinTech enablers in digital banking and prepaid globally, expecting to process $18 billion of gross debit volume (GDV) in FY20.
This move further diversifies EML’s customer, product and geographic footprint – providing entry into eight new markets and further penetration into UK, France and Spain.
Shares in EML Payments (ASX:EML)
closed flat at $3.83 on Friday.