Global Payments closing in on deal to acquire UK firm Takepayments

Global Payments (NYSE:) is nearing an acquisition of Takepayments, a UK payment processing firm, according to a Reuters report on Tuesday.

Citing sources familiar with the matter, the publication said the deal is expected to value Takepayments at over $250 million.

Global Payments, based in the U.S., won the bidding process over other competitors.

Global Payments shares are down around 1.6% at $135.57 per share as of 13:35 ET on Tuesday.

Takepayments provides payment services for UK merchants. The company generated a turnover of £52.7 million in 2022, rising from £40.8 million a year earlier, according to Reuters.