Digital commerce solutions provider Paysafe (PSFE) – Get Report has agreed to acquire private German fintech company Viafintech in an all-cash transaction.
The sale price was not disclosed in Paysafe's Sunday statement.
The transaction calls for Berlin-based Viafintech's shareholders – majority owner Glory Ltd., 25%-owner Grenke AG, and the company's founders Sebastian Seifert, Achim Bonsch and Andreas Veller – to sell their shares to Paysafe.
Grenke said in its Sunday statement that it was selling its 25% stake to Paysafe in the “low double-digit million euro range.”
Viafintech, which operates under the brands Barzahlen/Viacash and Viacash, offers the largest bank independent payments infrastructure in Germany, Austria and Switzerland, allowing for an alternative to the traditional banking structure.
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Paysafe enables businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallets, eCash and open banking solutions. The London-based financial services firm offers 70 payment types in over 40 currencies around the world.
Paysafe's acquisition of Viafintech follows its Aug. 2 purchase of Peruvian alternative payments platform PagoEfectivo, as well as its $441 million purchase of Aventura, Fla.-based e-Commerce payments platform SafetyPay on Monday.
The company went public in March in a special purpose acquisition, or blank-check, deal with Foley Trasimene Acquisition.
The company last week missed a third-quarter guidance, as it said it expects rev! enue between $360 million and $375 million. Analysts had been calling for revenue of $384.4 million.
Paysafe reported a second-quarter profit of 1 cent a share on revenue of $384 million. Earnings matched analysts expectations while Paysafe's revenue topped forecasts of $378.5 million.
The company's shares on Friday closed up 2.2% to $8.24. The stock rose 1 cent after hours.