Elavon, global merchant acquirer and subsidiary of U.S. Bancorp, has agreed to acquire Sage Pay, a payments gateway business in the United Kingdom and Ireland.
The acquisition is part of Elavon’s strategy to help its business customers grow as the global economy becomes more digital, and as businesses look to streamline their operations with software that includes payments capabilities.
Elavon is currently the fourth-largest merchant acquirer in Europe with an integrated international processing platform that allows them to do business in many countries and currencies. This acquisition extends Elavon’s market share in the UK and Ireland, particularly for small and medium-sized enterprises.
The agreement was signed on November 17, 2019, and is subject to regulatory approval.