Cambridge team advises PayPoint on £14m sale
Cambridge law firm, Mills & Reeve advised UK FTSE 250 business PayPoint plc on the sale of its online payment business to Capita for £14.4 million.
PayPoint is an international leader in payment technologies, providing payment solutions for everyone from consumer and financial services companies to retailers, utilities, media and government clients. The sale includes PayPoint.net and Metacharge.
The prime focus of the online payments business is to engage with clients, retailers, merchants and consumers across a multi-channel payment spectrum.
The payment services industry is evolving at great pace as consumers demand increasing access and convenience in making payments. In addition, retailers and merchants need trusted partners so as to simplify the complexity of multi-channel payments and services.
The Mills & Reeve team was led by corporate partners Stephen Hamilton and Tom Pickthorn (above) with wide support from across the firm’s eastern region corporate and commercial teams.
Pickthorn said: “This is a great deal to kick-off 2016 and comes after the Mills & Reeve being named as one of the top 10 UK law firms in Experian’s 2015 league table for deal volume. It was also a great example of our strength in depth with a large cross-office team working seamlessly together.”