UK Stock Market Takes Another Hit as Alpha Board Agrees to Corpay Acquisition

US financial services company Corpay has acquired London-listed fintech Alpha Group. UKTech News reported that Alpha board was acquired by Corpay after agreeing to a cash takeover of £1.8 billion.

The Corpay Advantage

Alpha Group views its acquisition by Corpay as a gateway to the global market and the expanded technology it needs to accelerate its growth.

“We’re delighted to consummate this transaction with Corpay. Corpay’s position as the leading non-bank provider of B2B cross border solutions is the perfect home for our people and will broaden their career prospects over time. Additionally, Corpay’s global footprint, licenses, bank relationships, technology, and balance sheet will accelerate our growth momentum, particularly in our institutional investor business,” Alpha Group CEO Clive Kahn said.

The acquisition will see Corpay purchase Alpha shares at a cost of £42.50 per share. This share price represents a significant premium for Alpha Group, whose undistributed share price stood at £27.45 in May 2025. Corpay, which is listed at the New York Stock Exchange first expressed interest in taking Alpha Group back in May.

But the takeover process has not been smooth. In early May, the Alpha Group board rejected a takeover offer from the US payments giant. Months later, the board agreed to the takeover after some back and forth that resulted in Corpay revising the acquisition teams. The board is also recommending that Alpha Group shareholders vote in favor of the takeover. The acquisition is set to be completed by the end of 2025 if shareholders vote for the deal.

Expanding Cross-Border Payments

Alpha is a top provider of B2B cross border financial solutions to investment funds and corporations in the UK and across Europe. The FTSE firm introduced alternative bank accounts as a faster and simpler way for investment managers to finance investments and make payments from anywhere in Europe.

Currently, Alpha Group holds an estimated $3 billion in deposits in more than 7000 customer accounts. Corpay’s interest stemmed from its desire to expand the cross-border aspect of its business.

“We couldn’t be happier to acquire Alpha. This 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. Alpha is a leading provider of alternative bank accounts to European-based investment managers and is a large, highly complementary, fast growing corporate payments asset with good prospects,”
Corpay’s Chief Executive Ronald Clarke said.

Blow to the UK Market

Alpha Group’s acquisition by US payments giant Corpay is the latest in a chain of takeovers by American firms. Other tech companies that have ditched the London Stock Exchange following takeovers include Alphawave and food delivery company Deliveroo.

Founded in 2009, Alpha Group was listed publicly on the London Stock Exchange in 2024. The fintech company offers forex risk management, currency management, and payment solutions to B2B companies. Corpay acquired the fintech firm for its large, fast-growing, and highly complementary corporate payments products.

“I’ve had the tremendous privilege of serving on the Board of Alpha since 2016. Over that time, I’ve 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,” Kahn added.

The Alpha Group CEO also termed the £1.8 billion offer by Corpay a strong endorsement of the company’s achievements.
“Great outcomes come from putting the right people in the right environment. Joining Corpay, our team will have access to greater scale and resources, but even more importantly, they’ll be part of a culture that values what we’ve built. I’m confident this next chapter will unlock new potential, for our people, our clients, and the business as a whole,” he said.