Accor Services has acquired UK-based PrePay Technologies, an issuer of prepaid card solutions, for a total of GBP50 million.
Accor Services has claimed that the acquisition will strengthen its leadership. It will also diversify its portfolio of products and services in the UK.
Serge Ragozin, CEO of Accor Services, said: The acquisition of PrePay Technologies, the UK market leader, provides Accor Services with a proven driver of growth and competitive differentiation in the prepaid services market. With PrePay Technologies, we will be able to respond more effectively to emerging customer expectations.
Dufour, CEO and founder of PrePay Technologies, said: As a pioneer in the UK prepaid card segment, we’re pleased to become a part of Accor Services’ growth dynamic. Its expertise, global leadership in prepaid services to businesses and public institutions and extensive customer portfolio represent outstanding opportunities for PrePay Technologies’ future development.