The deal on the sale of the Asian business of the iBox payment system to Life.SREDA fund is canceled

    On February 9, Megamind wrote that the Life.SREDA investment fund was planning to buy out iboxPro , a mobile acquiring service launched in the markets of Vietnam, Indonesia and Thailand. The deal was valued at $ 10 million.

    The fund also planned to launch LifePay Global - an international mPOS based on iboxPro. It was important for the fund to enter Asian markets. The mPOS segment in these markets is growing rapidly, according to fund experts.

    However, at the stage of processing the transaction, the companies disagreed about the concept of development of LifePay Global.
    “Life.SREDA wanted to buy our Asian business. Russian business was not included in the deal. There was no certainty on many issues in the transaction, so it seemed to us that the union with 2can interesting, " said Roem.ru CEO iBox Denis Deacons.

    As a result, the deal did not take place.

    “Our foundation is currently considering other configurations of LifePay Global, including negotiations with another mPOS in Southeast Asia, which is already present in eight markets and is preparing to attract a new round this summer,” said Igor Pesin, investment director of Life.SREDA VC.

    The fund also owns part of SumUp, a European payment service .. But the markets of Europe, Japan and Brazil are priority for him. Therefore, their joint cooperation has no prospects.

    On June 10, Megamind reported that the iBox and 2san, a competing mobile acquiring service , decided to merge. The company formed as a result of the merger is estimated at $ 20 million. The merger will allow to occupy 50% (by turnover) of the mobile acquiring market. Anton Inshutin, Managing Partner of Inventure Partners Fund, estimates the total monthly turnover of 2can and iBox owners at 230 million rubles.

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