Moneybookers, the UK-based ePayment provider, is up for sale with
a price tag of GBP100 million, the UK business media reports. The
business, which has around 2.3 million account holders, is owned by
German retail tycoon Otto Beisheim. In 1964, Beisheim founded Metro
Cash & Carry, now the world's fifth-largest retailer.
Industry observers say that potential buyers include Neteller, one
of the world's leading independent payment processors registered with
the FSA on the Isle of Man, as well as financial institutions and
private equity firms. Neteller is thought to be particularly keen
on Moneybookers following the recent restrictions on online gambling
in the USA, which have caused Neteller shares to plummet by 81 percent.
The acquisition of Moneybookers would increase Neteller's presence
in the European gaming market and bring in income from non-gaming
operations such as CD-WOW.
Moneybookers' revenue for 2006 is forecasted to be around Euro 8 million
with pre-tax profits of approximately Euro 4 million.
Longacre Partners are advising on the sale.