Optimal Payments to buy Sentinel Topco to boost online services

- Optimal Payments Plc said it would buy Sentinel Topco Ltd and its units, known as Skrill Group, for an enterprise value of about 1.1 billion euros ($1.19 billion) to expand its online payment and digital wallet services.

The online money transfer company is buying Skrill from CVC Capital's Sentinel Group Holdings SA, Investcorp Technology Partners and other shareholders.

Skrill is one of the largest pre-paid online voucher providers in Europe with its paysafecard brand.

Optimal said it would launch a fully underwritten rights issue to raise gross proceeds of about 451 million pounds ($672.1 million) to partly fund the deal.

The rest of the cash consideration would be financed through available cash and new debt facilities, Optimal said.

Optimal said the deal, which is expected to close by the third quarter of 2015, will add to earnings per share in the first fiscal year of ownership.

Optimal on Monday also posted an 80 percent rise in pretax profit for the year ended Dec. 31.