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Fintrax Group closes Planet Payment acquisition

Multicurrency digital payment processor Fintrax Group has acquired Planet Payment Inc. for €219 million ($257 million).

The combined business will operate in 55 countries across five continents and will employ more than 1,000 staff in 40 offices across the world and will process more than €15 billion in payment-related services in 2017.

Eurazeo SA is contributing €109 million to the financing of the acquisition as the majority shareholder in Fintrax since 2015.

Bank of America Merrill Lynch served as financial adviser and Skadden Arps Slate Meagher & Flom LLP served as legal counsel to Fintrax. FT Partners served as financial adviser and Goodwin Procter LLP served as legal counsel to Planet Payment.