Worldline, a European payment processor, has agreed to acquire electronic transaction company Ingenico in a deal worth €7.8bn.
The purchase comprised of an 81% share and 19% cash transaction. This deal will create a combined company of 20,000 employees spread across 50 countries and a client base of one million merchants and 1,200 financial institutions.
Under the deal, Ingenico shareholders will receive 11 Worldline shares and €160.5 in cash for seven shares tendered.
Ingenico board of directors chairman Bernard Bourigeaud said, “The combination of Worldline and Ingenico offers a unique opportunity to create the undisputed European champion in payments on par with the largest international players. This transaction comes at the time of accelerating consolidation of the industry and I am convinced that the joined forces of both leaders will deeply transform the industry.”
Worldline offers banks and financial institutions with various payment solutions including issuing, acquiring, fraud risk management, mobile banking, data analytics, payment terminals, loyalty payments, mobile banking and more.
Last year, Worldline released a new recurring payment solution for Swiss insurance companies. The solution gives insured people a method to manage their insurance claims through a single solution.
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