A listed London FinTech has rejected a takeover bid from across the Atlantic.
Alpha Group International PLC has a market capitalisation of £1.2bn, having seen its share price climb more than 1,000% since listing in 2017.
The firm, which describes itself as ‘half FinTech, half consultancy’, has seen its share price grow 28% in the year to date and 37% in the last 12 months.
Clive Kahn (pictured), the exited former CEO of takepayments, took over as CEO at the start of the year having served as chair since 2016.
Alpha delivers financial solutions to corporates and private market companies operating internationally.
Its key areas of operation are FX risk management, global accounts, mass payments and fund finance.
The all-cash preliminary proposal last week came from Corpay, a firm which offers tools that allow businesses to make payments to vendors.
“The board carefully considered the proposal, together with its financial advisers, and unanimously rejected it,” Alpha said in a notice to the London Stock Exchange this morning.
Corpay must announce a firm offer for Alpha or walk away from the potential deal by 30th May 2025.