Hightech Payment Systems (HPS) has concluded its acquisition of Irish digital banking firm CR2 Limited, a move projected to enhance HPS’s annual revenue by 25-30 million euros. The merger was finalized after fulfilling regulatory requirements in both countries. This acquisition is a significant milestone for HPS, which will celebrate its 30th anniversary and 20 years since its IPO in the coming years. CR2, with a global presence encompassing offices in Dublin, Dubai, Jordan, Australia, and India, is renowned for its BankWorld platform and PowerCARD solutions, utilized by over 350 banks in more than 90 countries. The acquisition is also expected to advance HPS’s Fintech innovations via its AccelR8 plan. Financially, the transaction is anticipated to bolster earnings to match previous highs of 685 dirham per share. Despite a 1.4% initial loss from the purchase, the company’s shares have increased by 9.58%, reaching 561 dirhams. The long-term growth strategy underscores HPS’s commitment to pioneering online payment technologies and enhancing digital banking solutions globally.
Digital Banking, Fintech, Financial Services,Morocco, Ireland, Global
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