Friday December 12,2014 : E-PROCESSOR SAFECHARGE IN $8 MILL ACQUISITION DEAL
Teddy Sagi's e-processor just got bigger.
SafeCharge, the e-processing company brought to the London market earlier this year by Israeli online gambling and property billionaire Teddy Sagi, continued its relentless growth this week with the $8 million acquisition of payment service provider CreditGuard.
The acquisition is expected to complete in January 2015.
David Avgi, the CEO at SafeCharge, said Friday:
"CreditGuard is highly regarded within the payments industry, with a solid portfolio of clients across multiple market sectors and a vast knowledge and expertise in Enterprise IT infrastructures, networks and security.
“This enables us to fast-track our entry into new verticals and take a strong position in the exciting Israeli market."
CreditGuard chief exec Uriel Ben David said the collaboration between the two companies would play a central role in expanding CreditGuard's technologies and services to local and international markets.
“We are excited to be joining the SafeCharge team, which is a true leader and a respected player in the online payments space," he said.