Shares in payment processing company DataCash Group PLC (DATA.LN) rose more than 50% Thursday after the company agreed to a GBP333 million takeover by credit card giant Mastercard Inc. (MA).

Mastercard said the deal will enable it to expand its business online by encouraging greater use of its card for online purchases in Europe and aid its launch of new e-commerce products.

Mastercard said the transaction, which has been backed by Datacash's board, will trim 5 U.S. cents from its fourth-quarter earnings per share.

DataCash shareholders will receive 360 pence a share under the terms of the offer, a 54% premium to the stock's closing price Wednesday.

At 1109 GMT, shares in DataCash were up 120.5 pence, or 52%, at 354.5 pence, making it the biggest riser on London's junior Alternative Investment Market.

-By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@dowjones.com
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