2007-03-28 18:25:02 -
LONDON, March 28 /PRNewswire/ -- Moneybookers Limited, one of Europe's leading online payment
providers and the UK's first FSA-licensed e-money issuer, announced today
that Investcorp Technology Partners, the technology private equity arm of the
international investment group Investcorp, undertook the buyout of the
company for a EUR105 million valuation. As part of the transaction,
Moneybookers' existing shareholders will maintain a significant ownership
stake in the company.
Headquartered in London, UK, Moneybookers enables online merchants and
e-commerce consumers to securely and instantaneously send and receive
payments online through a Moneybookers' e-wallet facility.
The company is one
of the fastest growing and most profitable e-money businesses worldwide. Dr.
Nikolai Riesenkampff, Moneybookers' Chief Executive, said: "We are delighted
to have reached this agreement with Investcorp and are looking forward to
this new partnership. The Investcorp team is committed to supporting us to
develop and aggressively grow Moneybookers' business and market share in
Europe and has been quick to recognise and understand the huge opportunities
in the online payment space."
Hazem Ben-Gacem, Managing Director at Investcorp, said: "We
are excited by the opportunity to partner with Moneybookers.com and team up
with Nikolai and the rest of the management team to support Moneybookers as
it continues to grow its market share. Our objective is to do what is
necessary to create Europe's largest e-wallet facility within the next two to
three years."
Investcorp Technology Partners specialises in private equity
for small and medium-sized technology businesses, focusing on growth buyout,
corporate carve-out, take-private and PIPE transactions in North America and
Europe. Investcorp Technology Partners is part of Investcorp, the global
investment group. Established in 1982, Investcorp now manages total
investments in alternative assets of over $10 billion.
LongAcre Partners Limited served as financial advisor to Moneybookers.
Notes to Editors
About Moneybookers
Moneybookers.com is a leading European payment provider
offering domestic payment options in more than 30 countries and customer
service in 12 languages. With now close to 3 million account holders
Moneybookers is one of the largest e-wallets worldwide. Moneybookers enables
any business or consumer to securely and cost-effectively send and receive
payments online, simply by using an email address. In 2007, already more than
5,000 merchants used Moneybookers' gateway product, which easily integrates
with any website. Moneybookers is regulated by the Financial Services
Authority of the United Kingdom (FSA). Further information is available at
www.moneybookers.com.
About Investcorp Technology Partners
Investcorp Technology Partners is a leading private equity
investor in small and medium-sized technology businesses in North America and
Europe. The team focuses on growth capital, buyout, corporate carveout and
take-private transactions. Some of the group's recent investments include the
EUR90 million buyout of Conduit Limited, Ireland's largest independent
directory assistance business and the formation of Dialogic Corporation from
a carveout of assets from Intel Corporation.
Investcorp Technology Partners is part of Investcorp, a
leading provider and manager of alternative investment products. It has
investment offices in New York and London. Investcorp has five lines of
business: private equity, hedge funds, real estate, technology investment and
Gulf growth capital. Founded in 1982, Investcorp has grown to become one of
the largest and most diverse alternative investment managers in terms of both
product offerings and geography. It currently has over $10 billion in
invested assets under management. Further information is available at
www.investcorp.com.
Source: Moneybookers Ltd
