July 1 Online money transfer company Optimal
Payments Plc said it would buy two U.S.-based online
payments firms for $225 million to expand its operations in
North America, sending its shares up 8.6 percent.
Optimal said it would buy California-based TK Global
Partners LP for $210 million, with $150 million in cash and $60
million worth of shares.
Optimal also said it would pay up to $15 million in cash to
acquire Global Merchant Advisors Inc, a Los Angeles-based
"Both businesses are U.S. based, a major focus for Optimal
given the opening up of that market for their existing
businesses, and are across a range of verticals," Barclays
analysts said in a note.
Both acquisitions are expected to close in the third
TK Global is doing business as Meritus Payment Solutions.
Shares in Optimal Payments were up 8.6 percent at 434.50
pence in early trading, making the stock one of the top
percentage gainers on the London Stock Exchange.
(Reporting by Aastha Agnihotri in Bangalore; Editing by