BUSINESS

Neovia makes Optimal acquistion move

TAGs: Neovia Financial, Optimal Payments

Neovia Financial, a company that at last year’s EiG Copenhagen revealed that it works with 23 of top 25 pokers sites is now making acquisitions moves.

The company has announced the acquisition of Canadian online payment processing company Optimal Payments at a price tag of $50 million. It’s a fair price to pay for Optimal Payment, a company which has been in the industry for the past 10 years and is a leading global payment processor in Canada, the United States, Europe, and the Caribbean, processing in excess of $2.5 billion U.S. in transactions annually.

Instantly with the acquisition of the 7012985 Canada Inc., the parent of Optimal Payments, Neovia has itself a North American presence thatmay prove extremely valuable moving forward.

Neovia president and CEO Mark Mayhew said the company is right on track in working towards their vision, he stated in the release “This acquisition provides a highly complementary fit for our stored value business and is absolutely aligned with the “twin pillars” strategy we outlined last year.”

More changes are in store, Optimal Payments president and chief executive Joel Leonoff is expected to join Neovia’s board of directors as an executive director once the transaction is complete. Leonoff will then take up his post as co-CEO alongside Mayhew.

When all is said and done, the company’s name will be changed to Optimal Payments Plc and the company will trade under the stock market symbol OPAY.L.

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