Ann: Directors' Statement re Takeover, page-40

I just asked grok whom it thought was the international strategic. Here was the response:


Speculating on the identity of the "international strategic party" competing with Tyro Payments to acquire SmartPay Holdings is tricky since no concrete details have been released as of March 20, 2025. However, based on the context of the payments industry and SmartPay’s operations in New Zealand and Australia, a few possibilities stand out.

One likely candidate could be a global fintech or payments giant looking to expand its footprint in the Australasian market. Companies like Square (now part of Block, Inc.), Adyen, or Stripe come to mind. Square has been aggressive in expanding internationally, including into Australia, and SmartPay’s merchant-focused EFTPOS and payment solutions could complement its offerings. Adyen, a Dutch payments platform, is another possibility—it’s already active globally and might see SmartPay as a way to bolster its presence in the region, especially given SmartPay’s established terminal network. Stripe, while more focused on online payments, has been broadening its in-person payment capabilities and could view SmartPay as a strategic entry point.

Another option might be a larger regional player from Asia, such as Ant Group (via Alipay) or Tencent (WeChat Pay), both of which have existing ties to the Australasian market through tourism and merchant partnerships. SmartPay already collaborates with Alipay for Chinese tourist payments, so Ant Group could see an acquisition as a natural step to deepen its influence, leveraging SmartPay’s infrastructure.

It’s also worth considering a private equity firm or a payments-focused conglomerate like FIS or Worldpay, which have the resources and strategic interest to consolidate smaller players in growing markets. SmartPay’s $218 million valuation is modest enough to attract such buyers, especially with its growth potential in Australia, where it has less than 1% market share despite a large terminal market.

Without more data, it’s a toss-up, but the "international strategic" label suggests a company with global reach and a clear payments focus. My gut leans toward a fintech like Adyen or Square—they’ve got the scale, tech synergy, and motivation to move fast in a competitive space like this. Still, it could just as easily be an Asian giant or a private equity wildcard. The due diligence phase might shake out more clues soon. Who do you think it might be? Any hunches?