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Digital banking: Moroccan HPS conquers Ireland

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HPS continues its international growth spurt with the acquisition of CR2 Limited, an Irish company recognized in the field of digital banking and payment software packages. This is what the daily L stands forEco motivations The acquisition is a key step in HPS's “AccelR8” strategic growth plan, it stressed in its release on Tuesday, May 28.

“Headquartered in Dublin, CR2 has offices in Dubai, Jordan, India and Australia and is known for its Bankworld software platform. The latter powers more than 90 banks spread across fifty countries, offering banking functions, digital wallets and payments.“, we read.

With this acquisition, HPS intends to integrate these cutting-edge technologies. Abdeslam Alaoui Smiley, co-founder and CEO of HPS, notes as quoted by the daily.“This acquisition marks an important milestone in the continued growth of HPS, and CR2 has a distinct set of capabilities that are a perfect fit for HPS and add significant depth to the platform.”

Fintan Byrne, CEO of CR2 adds ““This transaction is a recognition of what the CR2 team has created and an opportunity for future growth within the company.”

“CR2's integration with HPS offers significant strategic synergies, helping to address growing customer challenges with complementary software solutions. The acquisition is expected to be accretive to HPS' first-year earnings per share (EPS), reflecting anticipated synergies and new revenue opportunities in complementary markets.We read again.

CR2 generated revenue of €23.8 million in the 12 months to June 2023. As HPS begins this new chapter, “The company is committed to upholding the highest standards of integrity and customer service while pursuing its goals of growth and innovation.“, we indicate.

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Evercore is acting as exclusive financial advisor to HPS on the transaction, with Norton Rose Fulbright and Matheson LLP acting as legal advisors.

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