Access PaySuite Ltd entered into an agreement to acquire PayPoint.net Limited for approximately £160 million from Capita plc (LSE:CPI) on September 16, 2022. The deal values Pay360 at £150 million on a cash-free, debt-free basis. This represents a 14.3 times multiple of its 2021 earnings before interest, tax, depreciation, and amortization of £10.5 million.

PayPoint.net Limited reported revenue of £45.8 million, EBITDA of £10.5 million on December 31, 2022. The transaction is subject to regulatory approval and approval of Capita shareholders. As of November 1, 2022 Capita plc (LSE:CPI) shareholders approved the deal.

These conditions are currently expected to be satisfied in late Q4 2022. Barclays Capital PLC acted as financial advisor to Capita plc.