FTSE 250 firm Alpha Group is to be acquired by US-based financial services firm Corpay, marking another major UK tech company set to exit the London Stock Exchange.
The deal will see Corpay, which is listed on the New York Stock Exchange, purchase Alpha shares for 拢42.50 each – a 55 per cent premium on Alpha鈥檚 undisturbed share price of 拢27.45 in May 2025.
The agreement comes just months after the London-based FinTech鈥檚 board rejected an initial approach from Corpay.听
However, following a revised offer and negotiations, the board has now unanimously recommended the deal to shareholders.
鈥淲e couldn鈥檛 be happier to acquire Alpha,鈥� said Ron Clarke, CEO of Corpay. 鈥淭his 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.
Founded in 2009 and publicly listed since 2017 – first on AIM and more recently on the main London market – Alpha has grown into a significant player in the corporate payments space.听
The company offers FX risk management, global accounts, mass payments and fund finance solutions to a wide range of international businesses.
It initially floated with a share price of 250p, which has since rocketed to 4,157.08p, whilst it has a market cap of 拢1.76bn.
Describing Alpha as 鈥渁 large, highly complementary, fast growing corporate payments asset with good prospects,鈥� Clarke said the acquisition would enhance Corpay鈥檚 cross-border capabilities.
Since Corapy鈥檚 initial offer was rejected on May 6th, Alpha鈥檚 shares have risen by over 1,000p.听
Clive Kahn, who assumed the position of CEO of Alpha Group at the beginning of 2025, added: 鈥淚鈥檝e had the tremendous privilege of serving on the board of Alpha since 2016.
鈥淥ver that time, I鈥檝e 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.
鈥淭he offer from Corpay is a strong endorsement of the Alpha management team鈥檚 achievements. Great outcomes come from putting the right people in the right environment.听
鈥淛oining Corpay, our team will have access to greater scale and resources, but even more importantly, they鈥檒l be part of a culture that values what we鈥檝e built. I鈥檓 confident this next chapter will unlock new potential, for our people, our clients, and the business as a whole.鈥�
The takeover adds Alpha to a growing list of UK firms abandoning the London Stock Exchange in favour of overseas ownership, following in the footsteps of companies like Darktrace and Deliveroo.
The deal is expected to be completed in the final months of 2025.