The deal will expand PPRO’s offering, strengthen its presence and networks in Asia Pacific (APAC), and allow it to deliver products and services faster to its customers.
Speaking about the deal, PPRO CEO Simon Black said: “The acquisition of Alpha Fintech strengthens our position as both a global payments technology leader and trusted infrastructure partner to payment service providers, enterprises, banks and fintechs.”
"Global payments are evolving faster than ever. Together with Alpha, we provide the core infrastructure that organisations will need to build out and expand their payment platform," he continued.
Delivering digital payment services to customers
Founded in 2011, Alpha Fintech has a cloud-based platform that allows for the integration of digital payments products and services, from payment processing and merchant management to risk management, fraud prevention, and data analytics.
By adding Alpha’s platform to its infrastructure, PPRO is now poised to offer a plug-and-play orchestration layer that will let its customers integrate products and services faster and at scale.
PPRO will also welcome Alpha’s 90 paytech experts into its ranks, based primarily in Australia and Argentina, as well as the US and Singapore. Their addition boosts PPRO’s regional networks and presence and furthers its mission to become a global payments powerhouse.
Oliver Rajic, CEO of Alpha Fintech, also welcomed the deal, saying: "We want to shake up and democratise payments. Given PPRO's global reach, reputation, and standing, they're the perfect partner to help us do that. We're really excited to collaborate with Simon and the team to come up with end-to-end turnkey solutions that cover every aspect of digital payments."
The transaction is expected to close in the first quarter of 2022. Financial Technology Partners (FT Partners) acted as financial advisors and Noerr as legal advisors to PPRO in the transaction. Morrison & Foerster acted as legal advisors to Alpha Fintech.
- Countdown to Money 20/20 Europe: 19 Days to goFinancial Services (FinServ)
- Move to the Cloud. Go BeyondFinancial Services (FinServ)
- AI Fintech Saphyre has increased its approved patents to 105Financial Services (FinServ)
- What is Mastercard’s new biometric ‘wave to pay’ programme?Digital Payments