The sale of the Asian business of the iBox payment system to Life.SREDA is canceled
On February 9, Megamind wrote that the Life.SREDA investment fund was going to buy out the iboxPro mobile acquiring service launched in the markets of Vietnam, Indonesia and Thailand. The amount of the transaction was estimated at $ 10 million.
The fund also plans to launch LifePay Global, an international mPOS based on iboxPro. For the fund it was important to enter precisely the Asian markets. The mPOS segment in these markets is rapidly developing, as experts of the fund believe.
However, at the stage of processing the transaction, companies had disagreements over the concept of the development of LifePay Global.
“Life.SREDA wanted to buy our Asian business. Russian business was not part of the deal. There was no certainty about many issues on the transaction, so it seemed to us that the merger with 2can is more interesting, ” iBox CEO Denis Dyakonov told Roem.ru.
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As a result, the transaction did not take place.
“Now our foundation is considering other LifePay Global configurations, including we are negotiating with another mPOS in Southeast Asia, which is already present in eight markets and is preparing to attract a new round this summer,” said Life.SREDA VC investment director Igor Pesin.
The fund also owns part of the European payment service SumUp . But for him the priorities are the markets of Europe, Japan and Brazil. Therefore, their joint cooperation has no prospects.
On June 10, Megamind reported that iBox and the competing mobile acquiring service 2an decided to merge. The merged company is estimated at $ 20 million. The merger will allow you to take 50% (by turnover) of the mobile acquiring market. Managing partner of the fund Inventure Partners Anton Inshutin estimates the total monthly turnover of the owners of 2can and iBox at 230 million rubles.
The fund also plans to launch LifePay Global, an international mPOS based on iboxPro. For the fund it was important to enter precisely the Asian markets. The mPOS segment in these markets is rapidly developing, as experts of the fund believe.
However, at the stage of processing the transaction, companies had disagreements over the concept of the development of LifePay Global.
“Life.SREDA wanted to buy our Asian business. Russian business was not part of the deal. There was no certainty about many issues on the transaction, so it seemed to us that the merger with 2can is more interesting, ” iBox CEO Denis Dyakonov told Roem.ru.
')
As a result, the transaction did not take place.
“Now our foundation is considering other LifePay Global configurations, including we are negotiating with another mPOS in Southeast Asia, which is already present in eight markets and is preparing to attract a new round this summer,” said Life.SREDA VC investment director Igor Pesin.
The fund also owns part of the European payment service SumUp . But for him the priorities are the markets of Europe, Japan and Brazil. Therefore, their joint cooperation has no prospects.
On June 10, Megamind reported that iBox and the competing mobile acquiring service 2an decided to merge. The merged company is estimated at $ 20 million. The merger will allow you to take 50% (by turnover) of the mobile acquiring market. Managing partner of the fund Inventure Partners Anton Inshutin estimates the total monthly turnover of the owners of 2can and iBox at 230 million rubles.
Source: https://habr.com/ru/post/291570/
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