Equiniti One Step Closer to Acquiring TransGlobal Payment Solutions

Equiniti, a leading financial and payments technology firm, agreed to acquire TransGlobal Payment Solutions, a company that specializes in currency trading and processing solutions.

For now, the two parties have exchanged contracts. In the next six weeks, the agreement will be subject to comprehensive and proper acquisition procedures, as both sides push for a conclusion.

“Equiniti International Payments is experiencing strong growth and has an exciting pipeline of prospects,” said Guy Wakeley, Chief Executive of Equiniti.

“The acquisition of TransGlobal will strengthen our market offering by transferring ownership of the technology and future development to Equiniti, enabling us to drive further growth. It also supports the Group strategy of acquiring and developing innovative technology platforms in the FinTech space.”

Many expect the deal to go smoothly. The duo has been working together closely through a strategic partnership since 2011. TransGlobal currently provides foreign exchange payments via PayFac. Its consistent performance in the thriving payments space puts the establishment in line with Equiniti’s business interests.

Enterprise Ventures, a financial provider that specializes in small and medium-sized enterprises (SMEs) based in England and Wales, will be provided an exit through the agreement. The company’s investments in TransGlobal date back to 2007 and 2010.

“TransGlobal Payment Solutions provides companies with a simpler, more cost-effective way to manage international transactions and is a rising star within the UK’s FinTech sector,” highlighted Wayne Thomas from Enterprise Ventures.

“The deal will provide it with a platform for growth as part of a leading currency solutions provider and allow Equiniti to enhance its technological capabilities. It also allows us to deliver our investment case.”

Equiniti currently extends its services in the following sectors: central government, emergency services, telecoms and media, defense, health, insurance, retail, manufacturing, utilities and medium-sized enterprises.