The transaction is expected to be finalised next year assuming the necessary approvals are obtained. Its value was not disclosed
Blue Media, one of the largest companies operating in the payment industry on the Polish market, has announced the gaining of a new investor. It is Pollen Street Capital from London. According to Blue Media, PSC intends to make a strategic investment in the development of the Polish company, which will help accelerate its plans for international expansion. Blue Media wants to use Pollen Street's capital and industry know-how to create a leading European online payment company.
The transaction is expected to be finalised in the first half of next year, once all approvals required for such processes have been obtained. The value of the investment and the number of Blue Media shares to be acquired by the London-based investor were not disclosed. Blue Media's advisors on this transaction are PwC (lead M&A advisor) and Rymarz Zdort. Pollen Street was advised by EY and Clifford Chance.
- By working closely with the Pollen Street team, we have found that we share a common vision of how we can take advantage of the enormous opportunities in the area of online payments in the CEE region and beyond. We hope to realize our ambitious plans together - commented Blue Media founders, Andrzej Antoń and Konrad Kucharski.
The fact that Blue Media is looking for an investor has been talked about on the market for at least a few months. From the information reaching by cashless.pl, it appeared that the company is interested in gaining a large minority and financial investor. The valuation of the Tricity company during the due diligence was supposed to be between PLN 500 million and 1 billion.
Blue Media is one of the pioneers on the payment market in Poland. Through its Blue Media and Autopay brands, it offers a range of payment services for both businesses and consumers. This year the company expects to process payments worth over EUR 6 billion, supports over 33,000 active e-commerce merchants and is rapidly approaching 1 million Autopay app users.