Barclaycard to acquire Logic Group
Barclaycard, Barclays' global payment business division, is set to acquire payment and loyalty specialist The Logic Group.
Barclaycard, Barclays’ global payment business division, is set to acquire payment and loyalty specialist The Logic Group.
The acquisition includes Logic Group’s UK and Spanish businesses.
The acquisition provides Barclaycard’s global payments business clients with access to a wider suite of products and services, including Logic Group’s transaction processing capabilities from multiple sales channels (store, online and mobile) – through a single platform.
Barclaycard’s customers will also be benefitted from Logic Group’s loyalty programmes and data insights solutions, which enable merchants to provide highly targeted services to their customers.
Barclaycard will provide a broader merchant base of top tier global companies as well as small to medium size enterprises that will build on Logic Group’s existing portfolio of top tier retailer, financial services and hospitality business clients. The company’s clients will continue to benefit from the choice of both pin entry device supplier and acquiring services.
Gareth Wokes, chairman and CEO of The Logic Group, said: “Today’s announcement marks the start of an exciting new era of expansion and development for The Logic Group. We are delighted to become part of such a trusted, global brand and to be able to build on the opportunity that Barclaycard offers us in the expansion of our customer base as well as more benefits for our clients through Barclaycard’s scale and expertise.
“Our sustained focus on developing market leading payments and loyalty solutions over the past 20 years has been rewarded with a portfolio of leading UK and European customers and we are now looking forward to further broadening our services and solutions for the future.”
The transaction is expected to be closed in the fourth quarter of 2014, subject to competition authority approval