UK-based payments start-up DNA Payments has purchased local rival CR7 Services to support its growth.
Financial details of the transaction were not disclosed.
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By GlobalDataFounded in 2014, CR7 specialises in omni-channel payment processing technology and delivers retail payment acceptance solutions.
The company had LivingBridge, a private equity firm, as one of its lead investors.
CR7 comprises three operating companies- Optomany, 123Send and 123 Hire.
Optomany deploys payment terminals for retailers, while 123Send and 123 Hire delivers card payment solutions to SMEs.
To date, CR7 has supplied around 36,000 terminals to the local market.
As part of the deal, the CR7 team, including its CEO Adrian Wilding, will migrate to DNA.
Wilding said: “We are extremely proud with what we’ve achieved in just a few short years and we were ready for the next stage of accelerated growth.
“DNA brings with it the talents of its operating board, its experience in payments, and has confirmed its commitment to our independence of operation.
“We believe DNA Payments is the perfect choice to take CR7 Services Group to the next stage in our journey.”
A FCA-regulated payment services entity, DNA seeks to develop a transparent business model to simplify payments.
The CR7 deal is the company’s first acquisition aimed at facilitating its expansion drive.
