Casablanca – HPS, a Moroccan leader in payment solutions, has finalized its acquisition of 100% of CR2 Limited, an Irish company renowned for its digital banking and electronic payment technologies. The deal was completed after meeting all required regulatory conditions and was first announced on May 24, 2024.

This strategic acquisition marks a significant advance in HPS’s growth strategy, known as AccelR8. CR2, headquartered in Dublin and with additional offices in Dubai, Jordan, India, and Australia, is celebrated for its innovative BankWorld platform. This flagship solution supports over 90 banks across more than 50 countries, offering a comprehensive range of services including digital banking, digital wallets, and payment solutions such as card issuance, ATM management, and merchant acquiring. CR2’s partner ecosystem further strengthens BankWorld by providing seamless access to third-party fintech innovations.

The acquisition is expected to significantly boost HPS’s financial performance by unlocking new revenue streams in complementary markets. By merging CR2’s BankWorld platform with HPS’s PowerCARD suite, HPS is poised to enhance its ability to deliver cutting-edge payment and digital banking solutions. This integration will help clients navigate and thrive in a dynamic and competitive market.

Financially, the transaction is anticipated to increase HPS’s earnings per share within the first year, reflecting the expected synergies. CR2 reported revenue of approximately $26 million in the 12 months preceding June 2023, and is projected to contribute between $27 and $32 million annually to HPS’s revenue in the near term. The deal was financed through bank debt.

Evercore served as HPS’s exclusive financial advisor for the transaction, while Norton Rose Fulbright and Matheson LLP provided legal advice.