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PayPoint acquires Appreciate Group in a £83 million deal

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PayPoint acquires Appreciate Group in a £83 million deal



He believes that the acquisition will strengthen PayPoint’s digital payments offering.

Wiles:

More specifically, the proposed acquisition would jointly target growth in three broad areas: prepayment saving through Park Christmas Savings to support customers with budgeting tools for Christmas and other events; an enlarged full-service offering for gifting, employee rewards and benefits to Appreciate Group’s corporate clients; and an extended consumer gifting network for the Love2shop brand.

Guy Parsons (Executive Chairman of Appreciate) commented:

PayPoint’s offer represents an attractive premium for Appreciate Group Shareholders providing an opportunity to exit the majority of their shareholdings for cash, whilst participating in the potential upside of the combined Appreciate Group and PayPoint businesses over the long-term.

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