HPS (Hightech Payment Systems), a leading Moroccan company in payment solutions, is furthering its international expansion with the acquisition of CR2 Limited, a world-renowned provider of digital banking and payment software. This move follows closely on the heels of HPS opening a new office in India, underscoring its ambition to cement its status as a global leader in the industry.
HPS believes this strategic acquisition will solidify its position as a top-tier player in the digital banking and payments sector. The company aims to continuously create value for its customers, partners, shareholders, and other stakeholders through this transaction. CR2, headquartered in Dublin with offices in Dubai, Jordan, India, and Australia, is celebrated for its innovative digital banking and payment solutions. Its flagship platform, “BankWorld,” serves over 90 banks across more than 50 countries, offering comprehensive banking, digital wallet, and payment functionalities.
HPS views CR2’s operations as highly attractive and well-aligned with its strategic growth plan, “AccelR8.” The Moroccan group sees strategic synergies between the two companies, believing their combined software solutions and complementary capabilities will help both new and existing clients navigate increasingly complex challenges. Additionally, this acquisition strengthens HPS’s leadership in the African market, leveraging its presence in French-speaking regions alongside CR2’s success in English-speaking Africa and Australia.
Abdeslam Alaoui Smaili, CEO of HPS, stated that this acquisition marks a significant milestone in the company’s growth trajectory. He anticipates it will enhance HPS’s financial performance by unlocking new revenue opportunities in complementary markets. Moreover, integrating CR2’s banking solutions with HPS’s “PowerCARD” platform will bolster the value of HPS’s offerings to both current and prospective clients.
Fintan Byrne, CEO of CR2, expressed excitement about joining forces with HPS. He highlighted the shared wealth of experience, passion for innovation, and unwavering focus on customer success as key factors driving this partnership. Byrne noted that the acquisition is a testament to CR2’s achievements and future growth potential. The collaboration promises to offer more opportunities for investment and innovation, propelling the companies forward in the dynamic field of digital banking and payments. Together, they are eager to continue meeting the needs of their clients and stakeholders with confidence and enthusiasm.
