Worldline, the European leader in payment and transaction services, announced that it has acquired a majority stake in GoPay, an expert player in online payments in Eastern Europe. With this acquisition, Worldline expects GoPay to further reinforce the company’s Merchant Services business and strengthen its Central and Eastern European market position. The announcement forms part of the company’s Q1 2020 financial results announcement, which also underlines Worldline’s M&A strategy.
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Bolt-on acquisition of GoPay, an expert player in online payments in Eastern Europe
GoPay is the leading online collecting payment services provider for small and medium sized businesses in Central Europe including Czech Republic, Slovakia and Poland, offering an extensive range of local payment means and serving more than 9,000 e-shops. With its double-digit revenue growth, GoPay will contribute to building the profile of Worldline’s global Merchant Services business by developing the company’s online collecting capabilities in the fast-growing Eastern European market. The acquisition also strengthens Worldline’s market position in the Czech Republic and its partnership with Komercni Banka. Furthermore, 45 payment experts from GoPay including its current owner Pavel Schwarz, will be joining at the time of closing, which will expand and boost Worldline’s local expertise in digital go-to-market.
Having generated c. €7 million of revenue in 2019 and OMDA of c. €2 million, and a presence in Slovakia and Poland in addition to its home-base in the Czech Republic, GoPay complements Worldline’s footprint in the region as well as its SME business offerings. GoPay’s value proposition is based on a quick access to a high-quality payment collecting engine fit for the needs of small businesses and offering an extensive range of local payment means.
Under the terms of the agreement, Worldline will take over 53% of the stake in GoPay and is entitled to acquire the remaining shares in 2022. This transaction is expected to close in Q3 of 2020.
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