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(Alliance News) -Â PayPoint PLC on Thursday said it has completed the acquisition of Handepay Ltd and Merchant Rentals Ltd after receiving regulatory approval.
"The acquisition of Handepay/Merchant Rentals significantly enhances PayPoint's existing cards business, with a 30,000-strong SME customer base, access to new sectors including food services, garages and hospitality and the opportunity to accelerate the growth of the combined business in a growing cards market through clear operational initiatives, cross selling opportunities and synergies," PayPoint said.
The cash consideration for the acquisition, first announced in November, was GBP70 million.
Shares in the Hertfordshire, England-based payment services provider were up 0.7% at 667.00 pence in London on Thursday.
By Lucy Heming;Â lucyheming@alliancenews.com
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