SafeCharge International Group has purchased Israeli payment solutions company CreditGuard for $8 million, according to Globes. The two companies are very similar in that they provide secure, electronic payment solutions, however CreditGuard’s growth has been stagnant, while SafeCharge has grown 57% since its IPO in 2006.
SafeCharge sees the acquisition as a way to expand into the Israeli market, “Israel is widely recognized as a technology hub that has multiple online and mobile businesses.CreditGuard has an extensive portfolio of tier one customers to whom SafeGuard can now offer technologies and international reach.”
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