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Skrill Purchases Ukash

Online payment processing firm Skrill has announced that it has signed a deal to acquire the pre-paid cash voucher company Ukash for an undisclosed consideration.

The deal is likely to have an impact on internet gaming, as both companies are both heavily used by punters throughout Europe. The deal will effect Paysafecard, which was purchased by Skrill last year. The acquisition still has to go through regulatory approval and will not be considered complete until such a time.

Commenting on the deal Skrill's CEO in waiting David Sear said, “The acquisition of Ukash will significantly extend our reach in the high-growth pre-payment market. We are proud to support both consumers and online businesses with the world’s largest online cash replacement payment method and look forward to serving a combined base of millions of consumers around the world.”