PerfectCard sold to Australian payments company for €6m
23 October 2018 | 0
Irish FinTech company PerfectCard DAC has confirmed its sale to Australian payment solutions provider EML Payments in a deal worth €6 million.
The acquisition will result in the expansion of PerfectCard in Ireland, with plans to increase the number of full-time employees over the next few years.
PerfectCard DAC, which was Ireland’s first authorised e-money institution, provides incentive and corporate expense solutions including PerfectIncentive and the recently-launched Pecan Expense.
Established in 2011, EML is a payment solutions company listed on the Australian Securities Exchange. Headquartered in Brisbane, EML now operates in 21 countries, with offices in Kansas City, Stockholm, Brimingham (UK) and now Ireland. In its last financial year, EML processed AUS$6.7 billion and has a market capitalisation of AUS$400 million.
The companies are also today announcing that PerfectCard’s base in Galway will now become EML’s global hub for technology and innovation. The expected growth in the business will result in an increase in employment in Galway over the next two years.
Any new jobs will be in addition to the 20 people already working in Galway and at PerfectCard’s HQ in Kilcoole, Co Wicklow.