Kiwi e-commerce company Debitsuccess has capped off a bumper year culminating with the acquisition of UK-based direct debit provider DFC.
Debitsuccess chief executive Craig Marshall said the move allowed the company to target more international business and gain a better foothold into European markets.
"DFC is a strong, growing, profitable business, and it is an extremely good fit both culturally and operationally," said Marshall.
DFC operates in a similar market space, providing billing services to more than 250,000 customers in the leisure sector in the UK, as well as utilities, publishers and telecommunication companies.
The price paid for DFC has not been disclosed.
Debitsuccess started operations in 1994 - at first handling direct debits for the health and fitness industry - and is now one of the biggest "full service direct debit initiators" in Australasia.
The company looks after billing for more than 3000 businesses, equating to over 18 million transactions annually; a combined value that now exceeds $1 billion a year.
Locally, DebitSuccess added optometrists OPSM as a client in April this year, handling payments from 13,000 customers for eyecare on a subscription plan called Vision Plan. Home heating company HRV is also a client along with a number of gyms and fitness centres.
Marshall says Debitsuccess is also in final stage discussions with several companies in Asia and the USA regarding the provision of e-commerce services for the growing number of online businesses in these countries.
"We set some ambitious targets and have strengthened our infrastructure to meet our projected growth," said Marshall.