- Advent International Expansion:
- US private equity firm Advent International is acquiring UK paytech myPOS to expand its digital payment services in Europe.
- The acquisition is through Advent’s payments company, AI Circle Bidco (Circle).
- The deal values myPOS at €500 million ($542 million).
- myPOS Overview:
- Founded in 2012 by Christo Georgiev, myPOS offers payment processing tools to businesses and sole traders.
- It serves 170,000 merchants in Europe’s retail, hospitality, transport, and professional services sectors.
- Christo Georgiev is set to exit the business upon the acquisition’s completion.
- Management Involvement:
- While Georgiev exits, management is expected to remain involved in some capacity.
- Advent’s European Payment Landscape Involvement:
- Advent’s acquisition of myPOS is part of its strategic moves in Europe’s competitive payments landscape.
- Previous transactions include partnering with Bain Capital in 2010 to purchase Worldpay and acquiring Mangopay in 2022.
- Financial Investment:
- Advent has invested $6.5 billion in European payment companies and fintechs since 2008.
- The myPOS takeover strengthens Advent’s position in the European payments market.
Advent International snaps up UK paytech myPOS
Popular Categories
Previous article![]( "US fintech Brex names Karandeep Anand as its first president")
Next article![]( "Best practices for developing a generative AI copilot for business")
