Irish company "started at a kitchen table" sold for €326million
Quite simply: cha-ching.
Prepaid Financial Services (PFS) Ireland Limited, a fintech company started in Meath, has been sold for a whopping €326 to Australian payments giant EML Payments Ltd.
PFS, a prepaid cards and payments technology specialist, announced on Monday the deal that will see EML take over 100% of the share capital of the company.
Speaking about the deal, PFS CEO Noel Moran said: "From humble beginnings over a decade ago, PFS started life at a kitchen table and now we are so happy to be listed on the Australian stock exchange as a result of this transaction. It has been a magnificent journey and I am excited about the possibilities and opportunities that this will bring to us over the coming years.
"I look forward to working with the EML team and cross selling our expanded payment solutions over a global footprint. The EML product suite adds considerably to our existing capabilities and our combined global reach enables the group to service clients worldwide."
Together with his wife Valerie, Noel owns 81% of the company.
PFS currently employs 140 people in Ireland and has offices in London and Manchester.