Payment technologies specialist SafeCharge has acquired payment service provider CreditGuard for an initial cash consideration of $8m.
The acquisition of CreditGuard, a PCI-DSS Level 1 certified provider, is expected to complete in January 2015.
David Avgi, SafeCharge's chief executive, said: "CreditGuard is highly regarded within the payments industry, with a solid portfolio of clients across multiple market sectors and a vast knowledge and expertise in Enterprise IT infrastructures, networks and security.
“This enables us to fast-track our entry into new verticals and take a strong position in the exciting Israeli market."
CreditGuard CEO Uriel Ben David added: "This collaboration will play a central role in expanding CreditGuard's technologies and services to local and international markets.
“We are excited to be joining the SafeCharge team, which is a true leader and a respected player in the online payments space."
