Payment solutions provider Ingenico Group has acquired fellow payments service Bambora from Nordic Capital, in a deal worth around €1.5bn.
The transaction will be financed through cash and debt. The financial leverage will be below 3x EBITDA, enabling Ingenico to operate a future M&A.
Ingenico is a payments provider for commerce across in-store, online and mobile channels. The platform offers smart terminals, payment services and mobile solutions to make payments simpler and quicker.
Sweden-based Bambora offers in-store, mobile and online end-to-end payment solutions for over 110,000 retailers and enterprises globally.
Through this acquisition, Ingenico hopes to expand its acquiring capabilities, increase its focus on the end-to-end payment solutions market for European SMEs, and expand its presence globally.
Ingenico expects gross revenue and EBITDA to grow by over 20 per cent and 30 per cent respectively.
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