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Kreston Reeves has advised JCM Global on its acquisition of a 51% share in Game Payment Technology from the British Amusement Catering Trade Association (BACTA).
JCM Global specialises in transaction and payment technologies, and its technology platforms are used across entertainment, retail, transport and banking.
The corporate finance team at Kreston Reeves was engaged by its German subsidiary, JCM Europe, and was led by corporate finance partner Jack Clipsham and associate director Craig Dallender. The pair were supported by corporate tax director Michael Haig and corporate finance analyst Brandon McBride.
Game Payment Technology, which developed a cashless wallet for mobile devices, is a joint venture with Latitude 91, the parent company of industry payments specialist Polar Moment.
Kreston Reeves said the acquisition provides JCM Global with the opportunity to roll the technology out across its global operations.
Tim Stratton, chief executive of Latitude 91, said: “This is clearly an exciting development for GPT. The joint venture with BACTA achieved such a lot but working with JCM literally opens up a world of new opportunities. I’m confident that you can look forward to a long series of exciting developments in the near future.”
Corporate finance partner Jack Clipsham added: “JCM Global is a global leader in the automated payment industry. This was a complex multi-jurisdictional deal with the acquisition involving multiple parties. Kreston Reeves is well placed to advise businesses in acquisitions in the UK, wherever they are based in the world.”
Antonius Engel, finance director at JCM Europe, said: “The Kreston Reeves team worked hard to ensure this important acquisition progressed smoothly. I have no hesitation in recommending Jack, Craig and the team for their thorough and professional support.”
