Alpha Group, a London-listed fintech, has agreed terms on a cash acquisition that will see it acquired by Atlanta-based financial services group Corpay for £1.8bn.
The takeover agreement, which will see Corpay purchase Alpha shares for £42.50 each represents a significant premium, worth 55% more than Alpha’s undisturbed share price of £27.45 as of May 2025.
The New York-listed finance firm first confirmed its interest in acquiring Alpha in May.
Corpay said it was interested in expanding the cross-border side of its business and views Alpha as a “marquee acquisition”.
After some back and forth, including a rejected offer, the Alpha board has unanimously agreed to the revised terms and are recommending shareholders vote in favour of the acquisition.
Subject to a shareholder vote and other conditions, the deal is expected to go through during the last quarter of 2025.
“We couldn’t be happier to acquire Alpha. This transaction meaningfully expands our relationships with investment managers and results in four Cross Border customer segments: corporates, financial institutions, investment funds and digital currency providers,” said Corpay chief executive Ronald Clarke.
[Alpha is] a large, highly complementary, fast growing corporate payments asset with good prospects,” he added. “Alpha is a leading provider of alternative bank accounts to European-based investment managers.”
Founded in 2009 and listed publicly on the AIM in 2017 and the main London market in 2024, Alpha provides currency management, forex risk management, global accounts and payment solutions.
The takeover will see it become the latest tech firm to delist from the UK public markets in a major blow to the City.
Other firms that have or will soon ditch the London Stock exchange include Darktrace, Deliveroo and Spectris.
“I’ve had the tremendous privilege of serving on the Board of Alpha since 2016. Over that time, I’ve witnessed a budding business with a differentiated approach become an established player in its field, thanks primarily to a smart strategy, sound execution, and most importantly, great people,” said Clive Kahn, chief executive of Alpha.
“The offer from Corpay is a strong endorsement of the Alpha management team’s achievements.
“Great outcomes come from putting the right people in the right environment. Joining Corpay, our team will have access to greater scale and resources, but even more importantly, they’ll be part of a culture that values what we’ve built. I’m confident this next chapter will unlock new potential, for our people, our clients, and the business as a whole.”
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