Skrill And Ukash In Acquisition Deal

Consideration not disclosed as Skrill moves to acquire pre-paid voucher provider

The e-cash processing sector was humming late Thursday as news broke that online payment processor Skrill (formerly Moneybookers) has signed a deal to acquire the UK pre-paid cash voucher provider Ukash.

The consideration agreed for the acquisition has not been disclosed, and regulatory approval is still awaited.

According to a Skrill spokesman, the addition of Ukash to the group will augment the operations of subsidiary Paysafecard, which is the pre-paid unit for Skrill acquired last year for Euro 140 million (see previous InfoPowa report).

David Sear, the newly-appointed CEO at Skrill who takes up his responsibilities in January 2015, said Friday:

"The acquisition of Ukash will significantly extend our reach in the high-growth pre-payment market. We are proud to support both consumers and online businesses with the world's largest online cash replacement payment method and look forward to serving a combined base of millions of consumers around the world."

Paysafecard chief executive Udo Müller said he looked forward to the market influence that the combination of two key pre-paid technologies would generate with strong synergies, and the boost to the customer base that this would bring.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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