Ding buys payments firm iSend
Irish-based mobile top-up provider Ding has bought US-based electronic payment provider, iSend. The value of the acquisition was not disclosed.
Connecticut-based iSend, which had reported revenues of $158m for 2013, specialises in top-ups from 150,000 US stores to Mexico, Central America, South America and the Caribbean. Ding will add the US outlets to its 500,000 global top-up outlets. "The time was right for Ding to expand its presence in the US and joining forces with iSend consolidates our leadership position here," said Ding chief executive Mark Roden, inset. "It is also particularly pleasing to be able to complete this acquisition just six months after our last acquisition of RecargasaCuba.com which has been an outstanding success.
"There is huge potential in the US retail market and we are now ideally positioned to benefit from this with our newly combined structure."
The deal was part funded by AIB Corporate Banking. Mark Roden was named EY Irish Entreprenuer of the Year 2014 and represented Ireland at the World Entrepreneur of the Year awards in Monte Carlo in June.