Payment processor Worldline is set to acquire Swedish fintech company Digital River World Payments (DRWP), as part of the French company’s strategy to expand its presence into new markets through targeted M&A.
The transaction, which is for an undisclosed fee, is expected to complete by the end of Q3 and will see Worldline operate in Sweden, the US and Brazil for the first time.
Worldline CEO Gilles Grapinet said the deal would enhance the company’s abilities in next generation digital payments and will be the first of several acquisitions announced by the end of the year.
DRWP provides online and mobile transaction services for companies across a range of industries in Latin America, Europe, Asia Pacific and North America. It currently handles payments from 175 countries.
“With the acquisition of DRWP, we are accelerating the execution of our strategy in merchant services and significantly increasing both our internet payment capabilities and our global reach to support international merchants and large retailers,” Grapinet said.
“Based on its current pipeline of diversified potential transactions, Worldline has the ambition to realise several other M&A operations normally before the end of the year and, in doing so, to expand across various new geographies in Continental Europe.”