Currency Calculator by Send Money Home.

GBP Flag
1 GBP = 1.12960 EUR
EUR Flag
1 EUR = 0.8853 GBP

View Providers Switch Currencies

Euronet Worldwide Agrees to Acquire HiFX

SMH advert

Euronet Worldwide announced that it has entered into an agreement to acquire HiFX a UK based currency company. £145 million or approximately $242 million. Twenty-five percent of the purchase price will be paid in shares of Euronet stock and the balance in cash. HiFX in return brings significant foreign currency and account-to-account money transfer knowledge as they currently deliver approximately $64 million in revenue and $18 million in Adjusted EBITDA in 2013, which has a compounded annual growth rate of 10% and 25%, respectively, over the last three years.

Euronet expects the acquisition, which is subject to customary regulatory approvals and closing conditions, to close in the second quarter. Euronet estimates that the acquisition will contribute approximately 15 cents to Euronet's annual cash earnings per share in the first full year under Euronet ownership.

Euronet Worldwide, Inc.

Euronet Worldwide core business is processing secure electronic financial transactions. Euronet Worldwide offers ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, consumer money transfer and bill payment services, and electronic distribution for prepaid mobile phone time to financial institutions, retailers, service providers and individual consumers.

HiFX

HiFX were established in 1998 offering consumers and businesses an international money transfer service where they concentrated their business in the UK and Australasia where they have transferred overseas in excess of $165 billion. HiFX foreign exchange services have over 80,000 private individuals each year and 6,000 corporate clients worldwide.

© 2017 : All Rights Reserved
Send Money Home Registered Office 334 Southend Road, Wickford Essex SS11 8QS. Trading Office 83 Ducie Street, Manchester M1 2JQ. +44 (0) 844 357 4755 - Email Us