$423m acquisition shows expected increase in fintech M&A, HSF says
Herbert Smith Freehills (HSF) said that a recent major deal it advised on in the fintech sector shows the expected increase in M&A activity in the sector.
“This is an exciting deal for the fintech sector and shows that European fintechs remain attractive targets for global investors. We expect to see further M&A in this sector during 2020 given the number of mature businesses with good traction in the market and clear paths to profitability,” said partner Caroline Rae, one of the leaders of the HSF team.
Based in Australia, EML is a leading provider of payment services, while PFS is an award-winning European provider of white-label payments and banking-as-a-service technology, HSF said. The PFS acquisition is EML’s biggest acquisition yet.
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