Worldline to buy Digital River World Payments for European expansion
Payments services provider Worldline has agreed to acquire the Digital River World Payments unit of Digital River Inc. to bolster its online payments offerings to large merchant clients.
As a global payment gateway, Digital River World Payments brings acquiring and collecting services to Worldline, having generated yearly gross revenue of 37 million euros last year.
"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," Gilles Grapinet, Worldline CEO, said in a July 17 press release.
The combination of the companies puts Worldline in a "unique position to deliver the next generation of payment services for the digital commerce era," Grapinet said. Wordline operates as a unit of computer services supplier Atos, based in Bezons, near Paris.
Worldline wants to engage in other mergers or acquisitions before the end of the year to allow expansion across Europe, he added.
Stockholm, Sweden-based Digital River World Payments provides online payment acceptance solutions to leading enterprise brands in travel, retail, direct selling and digital goods.
Digital River has established many partnerships of its own in the past, expanding its global footprint to support international payment schemes and currencies across 175 countries, and providing more than 40 acquiring bank connections.
Worldline plans to leverage Digital River products in the 22 countries in which Worldline Group already operates, while also obtaining its first clients in Sweden, the U.S. and Brazil.
Worldline's five-year commercial agreement with Digital River Inc. calls for the seller to continue to provide a strategic relationship with DRWP past its closing, expected at the end of the third quarter in 2017.
The buyer plans to integrate DRWP into Worldline's Merchant Services Global Business unit.