Ant Group’s Strategic Move: Acquisition of MultiSafepay in Western Payment Markets
Ant Group is on the brink of sealing a deal to acquire Dutch payments firm MultiSafepay, marking a significant step in its strategic expansion into Western payment markets, according to insider sources disclosed to Reuters.
The impending transaction, currently awaiting regulatory approval, is expected to value MultiSafepay at approximately $200 million. With a revenue generation of $50 million, MultiSafepay caters to over 18,000 small and medium-sized businesses through its specialized payment acquiring and processing services.
Continued Global Expansion:
This move follows Ant Group’s ongoing strategy of expanding its global footprint through strategic acquisitions. Noteworthy acquisitions include Singapore-based payments firm 2C2P in 2022 and the notable purchase of the British payments group WorldFirst in 2019 for $700 million.
Ant Group, an affiliate of Alibaba Group, is positioned to acquire a 100% stake in MultiSafepay, currently under the ownership of founder and CEO Olaf Geurs. MultiSafepay, having grown organically without external investors, also operates through offices in Spain and Germany, as indicated on its website.
The acquisition aligns with Ant Group’s overarching strategy of establishing a robust presence in international financial markets. MultiSafepay’s recent annual report for 2022 disclosed a net profit of 1.3 million euros ($1.43 million) on gross income of 11.9 million euros. Clarity is sought on whether these figures encompass the company’s international ventures.
This strategic move underscores Ant Group’s commitment to global expansion within the financial technology sector, reinforcing its standing as a pivotal player in the dynamic landscape of digital payments. The company’s proactive pursuit of opportunities in Western markets reflects its dedication to diversification and sustained growth.
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