France-headquartered payments processor Ingenico Group has reportedly drawn interest from a selection of private equity firms.
The company, which is valued at $5.5bn, has been approached by buyout firms including CVC Capital Partners, Hellman & Friedman and Bain Capital, according to a report by Bloomberg which cites people with knowledge on the matter.
A series of unnamed rival FinTech companies have also reportedly expressed interest in the company, which is currently in talks with advisors about potential offers, the article states.
Ingenico is a payments provider for commerce across in-store, online and mobile channels. The platform offers smart point-of-sale terminals, cross-border payments, digital payment services and mobile solutions to make transactions simpler and quicker.
The company also supports data analytics to help retailers identify and realise business opportunities, as well as the tools to help expand e-commerce efforts.
It implements a series of fraud detection solutions to protect companies, including device fingerprinting, real-time behavioural mapping, IP geolocation tracking, risk profiles, cross-parameter checks, cross-merchant intelligence and merchant-controlled rules.
There have already been a series high-value deals for payment providers this year. Last month, European payments company Worldline made a €2bn acquisition of the SIX Payment Services.
Following the merger, the company will build one of the biggest payment providers in Europe. The group revenue will rise by 30 per cent and the merchant services will increase by 65 per cent, reaching over €1bn in annual revenue.
Another big deal in the space this year was the $2.2bn acquisition of Sweden-based payment provider iZettle by PayPal. The payments giant bought iZettle to increase its in-store presence and bolster the global use in the omnichannel retail ecosystem.
The deal also expanded PayPal’s reach to Brazil, Denmark, Finland, France, Germany, Italy, Mexico, Netherlands, Norway, Spain and Sweden.
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