Point Acquires Commidea to Expand into UK Market
Point International, a provider of electronic retail payment solutions in northern Europe, will acquire Commidea, a UK-based card payment processing solution provider. The acquisition was completed on 10 December 2009, making Commidea a fully-owned subsidiary of Point, while maintaining its operations under the Commidea label.
“Our companies have similarly successful backgrounds in our respective markets, and customers and locations that are truly complementary, which makes Commidea and Point a perfect match,” said Michael Sundin, chief executive officer (CEO), Point. “Commidea is an acknowledged technology leader in our field, and its experience in developing technologies such as contactless payment solutions makes the company a welcome and truly valuable addition to our group.”