Optimal Payments announces double US acquisition

Optimal has entered into a definitive agreement to purchase California-based payment processing entity TK Global Partners LP, which does business as Meritus Payment Solutions, for a consideration of $210m, consisting of $150m in cash and $60m of Optimal Payments shares.

Optimal Payments president and CEO Joel Leonoff said: “The US market represents the single greatest expansion opportunity for Optimal Payments.

“After careful evaluation of a number of potential candidates, Meritus stood out as the perfect choice on all fronts.

“The company’s strong stakeholder relationships, multi-channel sales force, established presence with small and medium businesses in the US and entrepreneurial spirit makes them an ideal acquisition for us.”

Optimal has also agreed to acquire US-based online payments firm Global Merchant Advisors for up to $15m in cash, $10m of which is payable on closing with the balance based on future performance of the business.

Both acquisitions are expected to close early in the third quarter of 2014.

In March, Optimal hired Thomas Auriemma as a strategic advisor for the US, with the former director of the New Jersey Division of Gaming Enforcement (DGE) providing strategic and regulatory advice on current and future US state regulation with regard to the online gaming payments industry.

Only New Jersey, Nevada and Delaware currently offer legal US online gaming, although a number of states, including California, are making moves towards regulating forms of internet gambling.

Stay updated with GI

Follow Gambling Insider for independent news, analysis and industry expertise.

Add as a preferred source on Google

Gareth Bracken

Journalist

Gareth Bracken is an experienced gaming journalist and editor who spent more than six years with Players Publishing, progressing through a range of senior editorial roles across its flagship titles, including Gambling Insider. He joined the company in 2010 as an Editorial Assistant before advancing to Staff Writer, Senior Staff Writer, Editor, and later Senior Features Writer.

Between 2011 and 2016, Gareth played a central role in shaping editorial output across print and digital platforms, producing in-depth features, news coverage and long-form analysis on the global gambling and iGaming industries. As Editor from September 2014 to October 2015, he oversaw content strategy, editorial standards and production workflows, helping guide the publication’s development as a leading B2B industry voice.

Visit Profile