(14 February 2019 – Global) Ant Financial has confirmed its agreement to acquire UK-based currency transfer company WorldFirst.
While the deal has been confirmed by Ant Financial no details of the transaction have been disclosed.
WorldFirst recently shuttered its US operations to ward off any regulatory objections to a proposed takeover.
WorldFirst CEO Jonathan Quin said in a letter sent out to clients that the company “will continue to operate as a UK-headquartered and regulated business with global operations” while becoming a wholly-owned division of Ant Financial.
Founded by former Citi bankers Jonathan Quin and Nick Robinson in 2004, WorldFirst employs about 600 people worldwide. The company currently processes over $15 billion a year, with full licensing and a global presence through 8 regional offices.