Ant Group to Close Multisafepay Acquisition Deal for $200 Million

Ant Group has announced the closing of a deal to acquire MultiSafePay, a company based in the Netherlands, for $200 million. Ant Group plans to use this acquisition to expand its operations into the Western market.

Ant Group will use this acquisition to accelerate its expansion plans within the Western payments industry. The transaction to facilitate this is currently underway and awaiting approval by regulators.

Ant Group Plans To Acquire MultiSafepay for $200M

This acquisition will value MultiSafepay at around $200 million, with the deal expected to attract revenues of $50 million.

Ant Group is expected to acquire the entire stake at MultiSafepay if this deal continues. The companies have failed to disclose additional details on the planned deal.

Ant Group has secured multiple deals and product launches over the past few months. It already has a significant presence globally.

Ant Group Secures Multiple Deals to Improve Experiences

The company has also been looking to cement its presence in the technology industry. Towards the end of last year, it announced a partnership with Huawei Technologies to create a dedicated version of Alipay.

This partnership is set to be created for HarmonyOS. The partnership will allow the two companies to deliver benefits to traders and users at Alipay while supporting the wide range of devices offered by the two companies. According to Huawei, this partnership is a significant step forward in creating native applications for HarmonyOS in China.

The deal between Ant Group and Huawei sought to improve user experiences across multiple applications. The two companies are expected to enhance the operational efficiency of traders and merchants working within the two ecosystems.

Another strategic deal announced by Ant Group was in November 2023 with a financial service company based in Luxembourg known as Banking Circle. Banking Circle announced it is working with Ant Group on a new liquidity management project. The announcement saw Banking Circle create a liquidity management project focused on technological innovations.

The process also seeks to improve the speed at which global fund settlements are made. The deal between Ant Group and Circle saw the Chinese tech giant benefit from the infrastructure of Banking Circle while offering its blockchain platform to issue and distribute tokenized deposits.

The Ant Group leverages its blockchain platform to facilitate cross-border payments and improve liquidity management. The platform seeks to enhance the compatibility of Web3 while incorporating foreign exchange and additional currencies.