PayPoint completes acquisition

PayPoint has confirmed the completion of its acquisition of Payzone Romania for an initial consideration of €1.6m, plus €0.5m in deferred consideration contingent on the collection of specific debts over the two years following completion.

The acquired business will be combined with PayPoint's existing Romanian retail network and will allow PayPoint to provide a significantly improved consumer experience through the offering of a broader range of services. PayPoint Romania will also realise operational efficiency benefits through the combination of the two businesses.

Dominic Taylor, Chief Executive Officer of PayPoint plc, said: "I am pleased we have completed the strategically important acquisition of Payzone in Romania. Its broad range of services and reach ideally complement our own Romanian business, and will help drive further growth in our retail network."

At 1:48pm: (LON:PAY) PayPoint PLC share price was +3p at 938p