Irish Echo, December 2019

Page 1

YOU LITTLE BEAUTY

Martin McDonagh’s Irish Stage Classic In Sydney PAGE 24

ALL IRISH PLAY-OFF?

Republic and Northern Ireland on collision path for Euro 2020. PAGE 29

THE LATE, LATE GAY BYRNE Tears and tributes for the titan of Irish broadcasting PAGE 6

December, 2019 | Volume 32 – Number 12 | AU$5.95 (incl GST)

DEAL OF THE CENTURY

Aussie firm buys Irish company for €327m

Ireland and Australia to clash in International Rules two-Test series

The deal could be worth €213 million for PFS founder Noel Moran.

happy to be listed on the Australian Stock Exchange as a result of this transaction. “It has been a magnificent journey and I am excited about the possibilities and opportunities that this will bring us. “I look forward to working with the EML team and cross-selling our expanded payment solutions. The EML product suite adds considerably to our existing capabilities and our combined global reach enables the group to service clients worldwide.” EML managing director and group chief executive officer, Tom Cregan said: “PFS is highly complementary to EML’s existing solutions suite.”

David Moran of Ireland and Australia’s Nic Naitanui clash during the 2014 International Rules Series in Perth. The hybrid code will make a comeback in 2020 with two Tests to be played in Ireland next November. Picture: Ray McManus

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Print Post No 100007285

MEATH-based Prepaid Financial Services has been bought by Australia’s EML Payments in a deal worth €327 million. The payment solutions provider said the deal would also comprise an additional earn-out component if Prepaid Financial achieves certain earnings targets. Prepaid Financial Services provides e-wallets and digital banking software among other services. Apart from its Irish base in Navan, where it employs more 100 of its 180 staff, the company has offices in Malta, London and Manchester. In September, the company said it would take on another 50 people amid a multimillion-euro investment in a new building in Trim, Co Meath. The company said those plans would continue following the takeover and suggested that the deal may even lead to more investment in Ireland. Founded in 2008 by Noel Moran, PFS is one of Europe’s largest issuers of e-money and is now active in 25 countries. Mr Moran controls 65 per cent of the company, meaning that Monday’s deal could be worth up to €213 million to him. His wife, Valerie Willis, is in line for a €53 million payout given her 16.3 per cent stake in the group. In a statement the company said: “From humble beginnings over a decade ago, PFS started life at a kitchen table and now we are so

It’s back: Hybrid code to return next year


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