DNA Payments (DNA), the ambitious new entrant to the UK payments market, has acquired CR7 Services (CR7), the fast growing, UK-based payment solutions provider. Advised by Proskauer Rose LLP and PwC LLP, the transaction marks DNA’s first acquisition as it looks to expand.
Since being established in 2014, CR7 has grown substantially by providing UK retailers with sophisticated, secure and reliable payment acceptance solutions. CR7 has deployed c. 36,000 terminals within the UK market to date via its two operating companies – Optomany & 123Send – and provides short-term hire via 123 Hire Limited. Optomany is an innovative payment acceptance solution provider delivering the very latest in payment acceptance solutions for all types of retailers, and 123Send and 123 Hire are two of the most trusted providers of card payment solutions focusing on small and micro retailers.
DNA Payments’ vision started over two years ago. Having worked within large corporate and financial organisations, DNA team sensed the need for change. Fueled by an unwavering commitment to the UK business owner, DNA wants to make payments fair and simple.
Following the acquisition, DNA will welcome the CR7 team, including CEO Adrian Wilding, into the DNA group.
“We are very excited by this acquisition. We are extremely proud with what we’ve achieved in just a few short years and we were ready for the next stage of accelerated growth” explains CR7 Services CEO, Adrian Wilding. “DNA brings with it the talents of its operating board, its experience in payments, and has confirmed its commitment to our independence of operation. We believe DNA Payments is the perfect choice to take CR7 Services Group to the next stage in our journey”
LivingBridge, the outgoing lead investors in CR7 also said;
“We are delighted to have worked with the CR7 team as they’ve grown the business over the last five years, and we wish them well as part of DNA Payments for the next stage of their journey.”
Mark Turner, LivingBridge
