MoneyGram International has acquired MTI Money Transfer, a UK-based company offering MoneyGram services across Europe.
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MTI has been providing MoneyGram’s service through its established network of more than 500 agent locations in the UK, Ireland, Denmark, Norway, Sweden, Finland and the Czech Republic.
MoneyGram believes that the acquisition positions the company for continued growth in key European markets and further strengthens its direct retail network and sales force.
Carl-Olav Scheible, MoneyGram’s executive vice president of Europe and Africa, said: "We are very excited about our acquisition of MTI. This acquisition will enable MoneyGram to further accelerate its position in the European retail market.
"Direct control of the MTI network and sales force brings us one step closer to the consumer and allows us to more consistently bring our innovative services to all those who depend on it on a daily, weekly or monthly basis."
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By GlobalDataMoneyGram provides consumers easy access to its services through a variety of store formats in Europe and around the world, including company-owned stores as well as agent relationships at large retailers, postal offices and small businesses.
The acquisition is in line with MoneyGram’s strategy to streamline its network, getting closer to the consumer and focusing on user experience and consistency of service.
