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HPS expands digital banking and payment solutions with acquisition of CR2


HPS Acquires CR2 Limited: Strengthening Digital Banking and Payments Capabilities

HPS, a global leader in payment software, has made a significant move by acquiring CR2 Limited, a digital banking and payments software firm based in Dublin. This strategic acquisition not only strengthens HPS’s capabilities but also expands its global reach, particularly in English-speaking Africa and Australia.

CR2 Limited, known for its flagship platform BankWorld, serves over 90 banks across more than 50 countries, offering a range of digital banking, digital wallet, and payment solutions. By integrating CR2’s innovative technologies with HPS’s existing offerings, the acquisition promises new revenue opportunities and synergies, in line with HPS’s AccelR8 strategic growth plan.

The transaction, expected to be EPS accretive within the first year, underscores HPS’s commitment to enhancing its digital banking and payment solutions. With CR2’s strong presence in multiple regions and a revenue of €23.8 million in the last 12 months, the acquisition solidifies HPS’s market position and sets the stage for continued growth and innovation in the digital payments sector.

Abdeslam Alaoui Smaili, Co-Founder and CEO of HPS, expressed excitement about the acquisition, highlighting the shared values and passion for excellence in digital payments between the two companies. Fintan Byrne, CEO of CR2, also welcomed the move, emphasizing the opportunity for future growth and international scale ambition.

The terms of the acquisition have not been disclosed, and the transaction is expected to close in the coming months, pending regulatory approval. With Evercore as the exclusive financial adviser to HPS and Norton Rose Fulbright and Matheson LLP as legal advisers, the acquisition of CR2 Limited marks a significant milestone for HPS in its journey towards industry leadership and customer-centric innovation.

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