Point International has acquired Commidea, the UK-based card payment processing solution provider.

The acquisition was completed on 10 December. The companies have not disclosed the terms of the transaction.

Headquartered in Stockholm, Sweden, Point is a leading provider of electronic retail payment solutions in northern Europe. "Our companies have similarly successful backgrounds in our respective markets, and customers and locations that are truly complementary, which makes us a perfect match," says Michael Sundin, CEO at Point. "Commidea is an acknowledged technology leader in our field, and its experience in developing technologies such as contactless payment solutions makes the company a welcome and truly valuable addition to our Group."

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