GoPay, the largest Czech online payment services provider by the number of e-shops served, partners with the French payment services provider Worldline.
As announced on 23 April 2020, Worldline has acquired a 53% majority stake in GoPay for an undisclosed sum. The transaction is expected to close in 3Q20 and Worldline is entitled to acquire the remaining shares in 2022.
“We have been dealing with many strategic partners over the last 3 years. Given to the fact that we process billions of CZK every year, by partnering with Worldline we will obtain the best combination of a product development, our own autonomy and a financial stability”, says Pavel Schwarz, GoPay founder and a so far a 100% owner.
Pavel Schwarz adds: “Worldline’s technological background will provide us with product synergies which will help us expand our services at domestic market as well as abroad, such as adding new features to card payments, faster clearing for foreign currencies, or adding new features to POS terminals under more favourable conditions”.
Gilles Grapinet, Chairman and CEO of Worldline says: “Worldline has made significant progress in its M&A strategy roadmap by signing an agreement for the bolt-on acquisition of GoPay, a true specialist in online payments in Eastern Europe. Our resilient business model and our adaptability enable us to pursue our roadmap despite uncertainties linked to the COVID-19. I am looking forward to welcoming 45 new payment experts in the Czech Republic.”
GoPay is the leading online collecting payment services provider for small and medium sized businesses in Central Europe including Czech Republic, Slovakia and Poland, offering an extensive range of local payment means and serving more than 9,000 e-shops.
With its double-digit revenue growth, GoPay will contribute to building the profile of Worldline’s global Merchant Services business by developing the company’s online collecting capabilities in the fast-growing Eastern European market. The acquisition also strengthens Worldline’s market position in the Czech Republic and its partnership with Komercni Banka.
GoPay was advised by Vienna Capital Partners accompanied by the law firms Urban & Hejduk and JŠK while Worldline was represented by Baker McKenzie.
Sources: GoPay, Worldline, 23 April 2020