Elavon Financial Services DAC partner Elavon to acquire Opayo
Your Questions Answered
Today, Elavon Financial Services DAC announced that it has signed an agreement to sell Opayo to Elavon, a leading global payments company, pending regulatory approval in the US and Ireland.
Elavon Financial Services DAC’s strategic focus is on building a great software business in accounting, financials, people and payroll for small and mid-sized organisations, working with partners in the payments space to deliver payments functionality to its customers. In that context Elavon Financial Services DAC, together with the Opayo management team, came to the conclusion that the best way to ensure customers continue to receive great service and innovative payments solutions from Opayo was to find it a new home outside Elavon Financial Services DAC. Elavon is in a unique position to bring additional technology and payments expertise, as well as further investment to Opayo, enabling us to better support our customers, increase our pace of innovation and focus on customer success.
This will not result in any change in current terms of service, and while the deal is being finalised, Opayo remains part of Elavon Financial Services DAC. We are committed to managing a smooth transition and will update you with further information as soon as it is available.
1. What was announced today?
As part of our vision of becoming a great SaaS company, we need to focus on the things that will accelerate our progress and simplify our business to ensure that it reflects the choices we have made. Sometimes, this means we look to find new homes for parts of our business that we think would be more successful outside of Elavon Financial Services DAC. Earlier this year, we confirmed that we were evaluating strategic options for Opayo, and the result of this is today’s announcement. We expect this new combination will take advantage of the strengths of both companies and accelerate the vision of being the payments solution of choice to businesses all around the world.
2. Who are Elavon?
As a payments industry leader, Elavon will bring additional technology and payments expertise, as well as further investment to Opayo, enabling it to better support our customers, increase our pace of innovation and focus on customer success.
3. When will the deal complete?
4. What is the impact on me as a Opayo customer?
5. Will Opayo continue to support integrations with Elavon Financial Services DAC Accounting?
6. What happens if I am with an acquirer that is not Elavon?
7. Who can I contact for more information?
Existing customers can contact our dedicated UK-based support team 24/7 on 0191 479 5922.