myPOS acquires UTP as it looks to boost support and payment solutions for UK SMEs.
European FinTech firm myPOS has acquired UK-based payment solutions provider UTP Group. Financial terms of the deal were not disclosed.
myPOS CEO Mario Shiliashki commented, “This acquisition is not just about market expansion – it’s about empowering UK SMEs with better payment solutions, stronger support and more growth opportunities.”
“By combining forces with UTP, myPOS will deliver superior solutions faster, enabling businesses to grow and scale without high upfront costs. We are excited to empower local merchants and lay the foundation for long-term success in this key market.”
Established in 2013, UTP provides a suite of payment services, including portable and countertop card machines, tap to pay and ecommerce solutions, and flexible funding options. Based in Reading, the company has signed more than 52,000 clients.
UTP CEO Michael Ault said, “Joining forces with myPOS is a great opportunity for UTP. Our team will have the chance to work with a leading FinTech platform that’s well positioned for future growth, backed by a growing European presence and a diverse suite of products. I am confident this partnership opens new opportunities to our robust sales team and our merchants, and I look forward to building on this momentum.”
The UTP deal follows myPOS’s recent acquisition of Toporder in France.
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