WorldPay said following the acquisition, Envoy will continue to operate its current business model, and the existing Envoy management team will join the senior leadership of WorldPay’s eCommerce business unit.
WorldPay Group CEO Ron Kalifa said the acquisition of Envoy confirms WorldPay’s status as the leading player in global eCommerce payments and fraud prevention and signifies a renewed focus on innovation for our customers.
Envoy founder and CEO, Phillip McGriskin they are delighted to be joining the WorldPay team and see a unique window of opportunity to create a truly differentiated, market-leading proposition for global merchants.
The acquisition of Envoy is expected to close in May 2011 after customary approvals and comes six months after private equity firms Advent International and Bain Capital formally completed their acquisition of WorldPay from The Royal Bank of Scotland Group.
Established in 2005, Envoy is a UK FSA-regulated global payments service that offers single point access to local payment and collection services worldwide.
Envoy offers international eCommerce merchants with wide coverage for alternative payment acceptance through a global network of over 200 local bank accounts and 40 alternative payment services as well as a fraud screening service.
