Eurazeo-backed Planet acquires 3C Payment
Eurazeo portfolio company Planet has acquired payments company 3C Payment.
The acquisition was not backed by fresh capital by the firm.
This strategic acquisition will enable the new entity to offer its customers an integrated payment platform for domestic and international payments, as well as a variety of value-added services such as currency conversion and VAT refunds.
Unquote sister publication Mergermarket has reported on several occasions in 2018 and 2019 that Planet was looking to acquire payments firms. Planet will pay between €7m and €30m on an acquisition, CEO Patrick Waldron said.
In 2015, Eurazeo acquired Fintrax for £410m. The company acquired Planet Payment in 2017.
Company
3C Payment has developed a universal, omnichannel payment platform for businesses, hotels and restaurants. Luxembourg-based 3C Payment was founded in 1988.
People
Planet – Patrick Waldron (CEO).
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