Co Meath-based Prepaid Financial Services has been bought by Australia's EML Payments in a deal worth €327 million.
The payment solutions provider said the deal would also comprise an additional earn-out component if Prepaid Financial achieves certain earnings targets.
Prepaid Financial Services provides e-wallets and digital banking software among other services.
Apart from its Irish base in Navan, where it employs over 100 of its 180 staff, the company has offices in Malta, London and Manchester.
In September, the company said it would take on another 50 people amid a multimillion-euro investment in a new building in Trim in Co Meath.
The company said those plans would continue following the takeover and suggested that the deal may even lead to further investment in Ireland in the future.
Founded in 2008 by Noel Moran, PFS is one of Europe's largest issuers of e-money and is now active across 25 countries.
Noel and his wife wife Valerie own more than 84% of the company, while staff collectively hold 11% of it.
EML said the deal for PFS would generate synergies of about AU$6m a year.
Aussie firm buys Prepaid Financial Services pic.twitter.com/NBjrnFRtLP
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"From humble beginnings over a decade ago, PFS started life at a kitchen table and now we are so happy to be listed on the Australian stock exchange as a result of this transaction," commented Noel Moran, CEO of PFS.
"I look forward to working with the EML team and cross selling our expanded payment solutions over a global footprint. The EML product suite adds considerably to our existing capabilities and our combined global reach enables the group to service clients worldwide," Mr Moran added.
EML's managing director and group chief executive Tom Cregan said that the acquisition continues to consolidate the Australian company's market position as one of the largest fintech enablers in open banking and prepaid globally.
"PFS is highly complementary to EML's existing solutions suite and adds digital banking and multi-currency offerings to our existing suite, while expanding our global market footprint and ability to cross-sell PFS' solutions," the CEO added.
