German payments company StarTec acquired by competitor Heidelpay

StarTec, a payments firm from Hamburg, has been acquired by Heidelberg-based Heidelpay for an undisclosed amount.

StarTec provides cashless point-of-sale (POS) solutions and will be integrated into the Heidelpay portfolio of online and offline payment services. The deal is the first step in Heidelpay’s ongoing consolidation strategy, said the company, which is backed by private equity firm AnaCap.

“This symbolises another milestone in our growth strategy. With this merger, Heidelpay can now offer one of the most powerful payment platforms and combine both online and brick-and-mortar commerce with an increasingly international focus,” said Mirko Hüllemann, CEO of Heidelpay.

“Going forward, the strong service-oriented identity of both firms will be streamlined collectively under the Heidelpay umbrella and together with AnaCap, we look forward to expanding Heidelpay’s market reach.”