Report: Paysafe Explores Options After Getting Takeover Interest
Online payments firm Paysafe is reportedly considering a sale after getting takeover interest.
The company is exploring options with the help of a financial advisor, Bloomberg reported Thursday (Feb. 6), citing unnamed sources.
Deliberations are ongoing, and there is no certainty that Paysafe will opt for a transaction, according to the report.
Paysafe did not immediately reply to PYMNTS’ request for comment.
The company went public in December 2020 in a merger with special purpose acquisition company (SPAC) Foley Trasimene Acquisition Corp. II that valued Paysafe at $9 billion.
Paysafe’s stock has slipped about 80% since that time, according to Thursday’s Bloomberg report. After a 12.3% rise as of 11:22 a.m. in New York, the company was valued at $1.4 billion.
Paysafe said in a November earnings report that it saw growth in core segments, gains in average transactions per active users of digital wallets and expanding reach in Europe.
The company’s adjusted earnings of 51 cents per share for the third quarter that ended in September were below the 59 cents per share Wall Street had expected, and its total revenues of $427.1 million exceeded consensus, PYMNTS reported at the time.
Paysafe CEO Bruce Lowthers said at the time that in the wake of the announcement that the company is collaborating with Revolut to bring its eCash service to Revolut’s 10 million United Kingdom customers, “within the first three months, we’ve transacted with 28,000 unique Revolut consumers, and we expect this to increase over time through further adoption in the U.K., along with expansion to other markets.”
Later in November, Paysafe announced that it partnered with CellPoint Digital to allow travel merchants to offer seamless payments to their customers.
The integration enabled by the collaboration allows these merchants to connect to numerous acquirers through CellPoint Digital’s payment orchestration platform so that they can access more individual acquirers and payment method providers in different markets.
“As a key acquirer, we are committed to supporting and innovating alongside merchants, offering them access to our robust acquiring solutions, high acceptance rates, enhanced security terms and improved liquidity,” Arun Lal, senior director of sales, eCommerce at Paysafe, said at the time.
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