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London based payments processor owned by The Blackstone Group and CVC Capital Partners, agreed to be acquired via a $9b reverse merger with a SPAC led by Bill Foley. Foley said in an interview that Paysafe had been at the top of his target list of mergers because it had different businesses that could be scaled.
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Philip McHugh, who will remain chief executive of Paysafe following the deal, told Reuters the company aims to expand its digital wallet offering by acquiring several players in the space, as well as to build on its position in the emerging sports betting market in the United States.
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