Casablanca and Dublin, 27 August 2024. HPS (CSE: HPS), a leading global provider of payment software and solutions, is pleased to announce the completion of the acquisition of 100% of the issued share capital of Ireland-based CR2 Limited (“CR2”), following the satisfaction of all the relevant customary regulatory conditions. The acquisition of CR2 by HPS was first announced on 24 May 2024.

CR2, with offices in Dublin, Dubai, Jordan, India and Australia, is renowned for its innovative digital banking and payments solutions. Through its flagship platform, BankWorld, CR2 powers 90+ banks across more than 50 countries, offering a complete suite that integrates Digital Banking, Digital Wallet and Payments Solutions (including card issuing, ATM management and merchant acquiring). In addition, CR2’s Partner Ecosystem combines the reliability of BankWorld with easy access to plug-and-play third-party fintech innovations.

The acquisition marks an important milestone in HPS's growth journey as it continues to execute on its AccelR8 strategic plan. CR2 is expected to contribute materially to HPS's financial performance by delivering new revenue opportunities in complementary markets. By combining the strengths of BankWorld and PowerCARD, HPS is now even better positioned to offer its customers cutting-edge payment and digital banking solutions, enabling them to improve their competitiveness in a constantly evolving market.

The transaction is expected to increase HPS’s earnings per share in the first year following completion, reflecting expected synergies. In the 12 months to June 2023, CR2 generated revenues of €23.8 million. In the short to medium term, CR2 is expected to contribute between €25 million and €30 million to HPS’s annual revenues. The transaction was financed by bank debt.

Evercore acted as exclusive financial adviser to HPS. Norton Rose Fulbright and Matheson LLP served as legal advisers to HPS.

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About HPS

HPS is a multinational company and a leading provider of payment software and solutions for issuers, acquirers, card processors, independent sales organisations (ISOs), retailers, mobile network operators (MNOs), and national & regional switches around the world.

PowerCARD is HPS’s comprehensive suite of solutions that covers the entire payment value chain by enabling innovative payments through its open platform that allows the processing of any transaction coming from any channel, initiated by any means-of-payment. PowerCARD is used by more than 500 institutions in over 95 countries.

HPS has been listed on the Casablanca Stock Exchange since 2006 and has offices located in major business centres across Africa, the Americas, Asia-Pacific, Europe, and the Middle East.

For more information, please visit: www.hps-worldwide.com

About CR2

CR2 is a leader in digital banking and payments software. With offices in Dublin, Dubai, Jordan, India and Australia, the business powers over 90 bank implementations across more than 50 countries around the world.

CR2’s journey to success extends over 20 years, with early successes in the self-service banking market within the international operations of global leading banks such as Standard Chartered Bank, Absa and Standard Bank. In the year 2000, CR2 was at the forefront of the digital banking revolution with the  introduction of its cutting-edge platform, known as BankWorld.

CR2 helps financial service providers to build around their clients with technology that supports both customer experience and an ability to consistently deliver.

For more information, please visit: www.cr2.com