Payne Hicks Beach

Payne Hicks Beach

10 February 2022

Sale of Syntec to Eckoh

Payne Hicks Beach acted for the shareholders of Syntec Holdings Limited (“Syntec”), a leading provider of secure payment solutions (under the brand CardEasy), on the sale of the company to AIM-listed Eckoh plc (“Eckoh”), the global provider of secure payment products and customer contact solutions, for a total purchase price of £31 million. The consideration was paid partly in cash and partly in new Eckoh shares. As part of the transaction, Payne Hicks Beach advised on the exercise of the sellers’ share options.

The Payne Hicks Beach team included Corporate Partner Howard Taylor, Corporate Senior Associate Isobel Symonds, Corporate Paralegal Charles Keen, Employment Partner Chris Weaver, Employment Associate Kim Crangle and Property Senior Associate Andrea Yiakoumetti.

Colin Westlake, CEO of Syntec, said: “We are joining Eckoh with common goals and values and a shared vision to deliver the safest payment experiences for our clients and their customers all around the world. The security challenges for organisations are only growing and by bringing together two successful teams and businesses that are so complementary, it will create an even stronger combined Group that will enable us to offer our mutual clients a broader portfolio of market-leading engagement security solutions. We look forward with excitement and optimism to the future prospects of combining our proven skills and technology to help combat whatever new security challenges may present themselves.”

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