UK fuel card company Retail Decisions is acquiring E Com, Australia's largest prepaid gift card operator.
Retail Decisions said that it was paying A$30 million for the card business, with funding for the acquisition coming through a mixture of existing cash resources and new debt facilities.
The company plans to integrate E Com into its existing Australian fuel card business.
Carl Clump, CEO of Retail Decisions said: we are delighted to be acquiring E Com. This is a very important acquisition for ReD, which we believe will deliver significant shareholder value. In line with our clearly stated strategy this extends our card issuing capability into a new segment with excellent growth potential.