Euronet Pays $242M For UK Payment, Exchange Service

Law360, New York (March 11, 2014, 12:59 PM EDT) -- Euronet Worldwide Inc. will snap up U.K.-based HiFX, one of the largest online international payment and foreign exchange services, for €142 million ($242 million), expanding the electronic payment distributor's international services, Euronet said Tuesday.

Under the terms of the deal, Kansas-based Euronet will fund 25 percent of the transaction with its stock and the remainder with cash drawn from its existing revolving credit facility, according to a statement.

With the addition of the U.K. company, Euronet plans to make a play in the $9.9 billion payment...
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