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- EML Payments (EML) completes the acquisition of Sentenial and its wholly-owned subsidiaries
- The acquisition consists of an upfront enterprise value of €70 million (A$112.8 million) and an earn-out component of up to €40 million (A$64.4 million)
- This was paid for through a combination of cash on hand, a multi-currency debt facility and scrip consideration
- The acquisition aligns with EML’s accelerator strategy and aims to expand Sentenial’s Nuapay open banking product international markets
- EML is up 3.46 per cent on the market with shares trading at $3.89 at 1:33 pm AEST
EML Payments (EML) has completed the acquisition of Sentenial and its wholly-owned subsidiaries.
This acquisition has been approved by the respective French and UK financial regulators of L’Autorité de contrôle prudential et de résolution (ACPR) and the Financial Conduct Authority (FCA).
The acquisition consists of an upfront enterprise value of €70 million (A$112.8 million) and an earn-out component of up to €40 million (A$64.4 million).
The acquisition was paid for through a combination of cash on hand, a multi-currency debt facility and scrip consideration.
It aligns with EML’s accelerator strategy and aims to expand Sentenial’s Nuapay open banking product international markets.
Furthermore, it will create a world-first platform of card-based payments, open banking and real-time A2A-based payment solutions.
Group CEO and Managing Director Tom Cregan said the company is excited to bring Sentenial into the fold.
“Sentenial’s scalable, bank-grade architecture perfectly complements EML Payments’ diversification into open banking and our continued focus on creating market-leading payment solutions for clients with our global product expansion strategy,” Mr Cregan said.
“Strategically this is an important acquisition for us, continuing our transition over the last 10 years from a gift card company, to a general purpose reloadable company, and now extending that again to include digital payments, open banking and account to account payments.”
EML was up 3.46 per cent on the market with shares trading at $3.89 at 1:33 pm AEST.
