International currency exchange specialist HiFX announced yesterday that Euronet Worldwide Inc, a $1.8 billion global electronic payments provider based in Kansas, is to acquire the business.
Euronet is a global e-payments company and shares common values with HiFX, a brand well-known in Portugal with an expanding currency exchange client base.
The strong Euronet balance sheet, its existing bank relationships and the company’s global market entry expertise will give HiFX scale and will allow it to continue to build a global foreign exchange company based on consistently bank beating exchange rates, innovative technology and world-class customer service.
Most importantly for HiFX’s network of affiliates and partners, with Euronet’s backing the company will be able rapidly to broaden the number of financial products on offer and accelerate our investment in technology providing clients with a faster, even more cost-effective and convenient service.
HiFX will continue to be managed by CEO, Matthew Knowles, and once integrated into Euronet Worldwide’s money transfer business HiFX will retain both the HiFX brand and the company’s 200+ employees worldwide.
“We believe that this is an exciting development in the HiFX story and that with Euronet’s balance sheet we’ll be uniquely positioned to address the growing international needs of both our corporate and private clients wherever they are in the world,” according to a company spokesman who added “We expect the acquisition, which is subject to customary regulatory approvals and conditions, to complete in the second quarter of 2014.”
For more information on Euronet Worldwide please visit their website here: www.euronetworldwide.com
For HiFX click here
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