Collector Bank acquires Lowell’s payment solution
Today, Collector Bank entered into an agreement to acquire Lowell’s payment solution business, Lindorff Payments. The transaction means that Collector Bank will double in volume in Finland, thereby strengthening its role as one of the Nordic leaders in payment solutions.
Lindorff Payments has an impressive portfolio, with hundreds of Nordic clients and several strategic partnerships. Since its inception in 2011, the acquired payment solution business has handled millions of transactions for online and traditional stores alike.
“We are truly pleased about this opportunity to strengthen our position in the market for payment solutions in Finland and the Nordic region. The operations we are acquiring from Lowell are incredibly well managed. We are looking forward to serve our new clients increase sales and strengthen their customer experience,” says Martin Nossman, CEO of Collector Bank.
Just like Collector Bank’s existing offering, Lowell has B2C and B2B payment solutions for in-store as well as e-commerce companies. The transaction supplements Collector Bank’s offering and gives the company’s growth in the Nordic market another powerful boost.
Lowell states increased focus on core business as the main driver for the divestment.
“The sale of Lindorff Payments enables us to enhance our focus growing our market shares within our most important segment of the Nordic region, financial institutions. It also gives us the opportunity to explore new business segments within credit management services”, comments Trond Brandsrud, Lowell Nordics Managing Director.
The agreement will be signed today, and the parties are striving for completion before the end of the year.
For more information:
Martin Nossman, CEO Collector I Phone +46 70-330 26 75 I E-mail firstname.lastname@example.org
Susanne Bruce, COO Collector I Phone +46 70-828 24 27 I E-mail email@example.com
Aki Tusa, Country Manager Finland I Phone +358 50-538 96 82 I E-mail firstname.lastname@example.org