CVC Capital Partners is paying €600 million (U.S. $799.4 million) for Skrill Group.
Skrill, headquartered in London, is an online payment system and digital-wallet provider. The company’s digital wallet product allows customers to make online payments and send and receive money online.
CVC, headquartered in London, is a private equity firm that has invested in more than 55 companies. The firm recently announced it is buying Domestic & General, as well as some of Campbell Soup Co.’s (NYSE: CPB) European assets.
The company was sold by private equity firm Investcorp, which invested €25 million for a controlling stake in the company in March 2007. Bahrain-based Investcorp has invested in Sur La Table, Berlin Packaging and GL Education Group. The firm’s recent investments include Scandinavian luxury brand Georg Jensen, and snack brand Tyrrells. Investcorp owns SourceMedia, Mergers & Acquisitions’ publisher.
Barclays plc served as Investcorp’s financial adviser, while SJ Berwin provided legal advice.
Other recent electronics payments deals include Actis LLP’s purchase of Paycorp Holdings Pty Ltd., Net Element International’s (Nasdaq: NETE) deal for Aptito, and Net Element’s acquisition of Unified Payments.
For more on electronic payments, see “Swiping Up E-Payments.”