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Slide #18. Euronet Worldwide — HiFX
Euronet Worldwide (NASDAQ:EEFT)
Euronet Worldwide, Inc. (Nasdaq:EEFT), a leading global electronic payments provider and distributor, today announced that it has entered into an agreement to acquire U.K.-based HiFX, a fast-growing provider of online initiated international payments and foreign exchange services, for 145 million or approximately $242 million. Twenty-five percent of the purchase price will be paid in shares of Euronet stock and the balance in cash; Euronet's existing revolving credit facility will be used to fund a portion of the cash consideration.
Euronet Worldwide is an electronic payments provider. Co. provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Co. operates three segments: Electronic Fund Transfer Processing, which processes transactions for a network of automated teller machines and point-of-sale terminals; epay, which provides distribution and processing of prepaid mobile airtime and other electronic content and payment processing services for various prepaid products, cards and services; and Money Transfer, which provides global consumer-to-consumer and global account-to-account money transfer services.
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Strong Buy (3.83 out of 4)