Euronet Worldwide to make a bid for Alphyra

PAYMENTS software company Euronet Worldwide is to make a bid for Alphyra, currently the subject of a proposed management buyout (MBO).

Reports yesterday said that Euronet Worldwide was willing to bid if the “conflicted position” of the Alphyra management team “can be sorted out.” The company’s chief executive and chairman, Michael Brown, reportedly said last Friday he was interested in acquiring the Irish payments firm. His remarks were made before the Alphyra MBO team upped their offer to €2.70 per share from an initial €2.45, putting a value of €88 million on the company.

Almost 35% of Alphyra shareholders have already accepted the €2.45 offer.