Optimal Payments has said it is buying Sentinel Topco and its units, known as Skrill Group, for an enterprise value of about €1.1 billion to expand its online payment and digital wallet services.
The online money transfer company is buying Skrill from CVC Capital's Sentinel Group Holdings SA, Investcorp Technology Partners and other shareholders.
Skrill is one of the largest pre-paid online voucher providers in Europe with its paysafecard brand.
Optimal said it would launch a fully underwritten rights issue to raise gross proceeds of about £451 million to partly fund the deal.
The rest of the cash consideration would be financed through available cash and new debt facilities, Optimal said.
Optimal said the deal, which is expected to close by the third quarter of 2015, will add to earnings per share in the first fiscal year of ownership.
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