Global Payments Acquires UK Payments Firm Takepayments

Global Payments makes strategic move with $250m acquisition of Takepayments, expanding its global reach in the payments industry.

US payment processing giant Global Payments has recently completed the acquisition of UK-based payments business Takepayments, as confirmed by a Companies House filing. The acquisition is reported to be valued at over $250 million, marking a significant move for Global Payments in expanding its international presence.

Global Payments, headquartered in Atlanta, specializes in providing payment technology and services to merchants worldwide. By acquiring Takepayments, a Stockport-based business, Global Payments aims to strengthen its foothold in the UK market and enhance its service offerings to merchants in the region.

The acquisition of Takepayments was reportedly a competitive process, with Global Payments emerging as the preferred bidder among other interested parties. Takepayments, owned by private equity firm Grovepoint, is a leading provider of payment services to UK merchants, boasting a client base of over 75,000 businesses.

According to financial records filed at Companies House, Takepayments recorded revenues of £52.7 million in 2022, reflecting a significant increase from the previous year's figure of £40.8 million. The filing also indicates that Global Payments now holds a majority stake of 75% or more in Takepayments, solidifying its position as the new owner of the business.

With this acquisition, Global Payments gains access to a robust distribution channel into the UK small business market and the opportunity to cross-sell its products and services to Takepayments' extensive customer base. This strategic move is expected to drive growth and further strengthen Global Payments' position as a leading player in the payment processing industry.

The acquisition of Takepayments by Global Payments represents a significant milestone in the company's expansion strategy, enabling it to tap into new markets and enhance its service offerings to merchants in the UK. This move underscores Global Payments' commitment to driving innovation and delivering value to its customers in an increasingly competitive landscape.