Optimal Payments (Neteller) Buying
Skrill for $1.2 Billion
Optimal Payments, which owns
Neteller, has said they will be buying Skrill Group for about $1.2
billion dollars. Neteller and Skrill are two of the most popular
online payment methods in the world
so this is a huge deal.
Optimal Payments has not said
if Skrill will remain their own brand or be absorbed into the Neteller
brand. Regardless, the addition of Skrill will make Optimal Payments
an even bigger player in the online payment market. "We now
become significantly more relevant to the industry as the consolidation
strengthens our position around the world," Optimal Payments
CEO Joel Leonoff said, "The acquisition of Skrill will create
a global tech champion in the fast growing digital payments space
and we believe represents a transformational leap forward that greatly
accelerates our strategic plan."
Optimal Payments is currently
doing business in more than 200 countries and territories around
the world. The addition of Skrill and their paysafecard will expand
the reach of Optimal Payments and Neteller even further. "There
is a growing opportunity to help facilitate alternative payments
in places where credit cards don't work as well as in other communities."
Leonoff said, "We will look to create a buffet of payment options
The deal for Optimal Payments
to acquire Skrill still has to go through a number of formalities
so it may not be completely done until later this year.