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Moroccan HPS acquires Ireland’s CR2 to bolster global expansion

By Gloria Methri

May 27, 2024

  • AccelR8
  • BankWorld
  • CR2
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HPS, CR2, Global Payments Technology, Payments Tech, Payments Solutions, Fintech Expansion, India Expansion, India Fintech, Pune FintechHPS, a global provider of payment software and solutions, has agreed to acquire CR2, a digital banking and payments software company in Ireland.

CR2, with offices in Dublin, Dubai, Jordan, India, and Australia, is known for its innovative digital banking and payment solutions. Through its flagship platform, BankWorld, the company powers 90+ banks across more than 50 countries, offering a comprehensive suite of digital banking, digital wallet, and payment functionalities.

In addition, CR2’s Partner Ecosystem combines the confidence of BankWorld with access to easy plug-in third-party FinTech innovations.

HPS views CR2’s business as highly attractive and aligned with its AccelR8 strategic growth plan. HPS believes there is strategic synergy between the two businesses and that the parties’ respective complementary software and capabilities will help existing and new customers address their increasingly complex challenges.

CR2 is expected to contribute materially to HPS’s financial performance by delivering new potential revenue opportunities in complementary markets. In addition, combining CR2’s digital banking solutions with PowerCARD will enable HPS to strengthen its value proposition with current and new customers.

Commenting on the acquisition, Abdeslam Alaoui Smaili, Co-Founder and CEO of HPS, said, “Today marks a significant milestone in HPS’s continued growth. CR2 has a differentiated and exciting capability set, which is a strong fit for HPS and adds significant depth and breadth to our platform. With similar cultures valuing customer focus and high performance, we believe that HPS will be an excellent home for CR2 to thrive and deliver long-term growth.”

Fintan Byrne, CEO of CR2, said, “We are pleased to be joining Abdeslam and the team at HPS. This transaction recognizes what the CR2 team has created and the opportunity within our business for future growth. Importantly, it aligns with our continued ambition for an international scale. With additional scale comes even more opportunities to invest and innovate. Together, we look forward to continuously delivering for customers and all stakeholders with confidence.”

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