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Worldline, a French payment system operator, has agreed to purchase its rival, Ingenico, Reuters reports. The companies noted that the deal will create a payment operator, which will become the largest in Europe and the fourth in the list of the largest on the planet.
Under the agreement, Ingenico was valued at € 7.8 billion. Reuters notes that this is approximately 16% higher than the market capitalization of Ingenico (around € 6.7 billion). Companies said they expect the deal to close, which requires approval from the regulator in the third quarter of 2020. Worldline shareholders will own 65% of the new company, while Ingenico shareholders will receive 35%. The company will be headed by Worldline’s chief Gilles Gilles Grapinet.
The financial technology sector is rapidly consolidating, Reuters notes. In 2019, the American financial corporation Fidelity National Information Services bought the British payment operator Worldpay for about $ 35 billion, and the American fintech service provider Fiserv acquired First Data for $ 22 billion. By 2023, the volume of payments worldwide is expected reach $ 3 trillion per year as more and more people are switching from cash to digital payments, the agency said with reference to McKinsey.
source: reuters.com
Under the agreement, Ingenico was valued at € 7.8 billion. Reuters notes that this is approximately 16% higher than the market capitalization of Ingenico (around € 6.7 billion). Companies said they expect the deal to close, which requires approval from the regulator in the third quarter of 2020. Worldline shareholders will own 65% of the new company, while Ingenico shareholders will receive 35%. The company will be headed by Worldline’s chief Gilles Gilles Grapinet.
The financial technology sector is rapidly consolidating, Reuters notes. In 2019, the American financial corporation Fidelity National Information Services bought the British payment operator Worldpay for about $ 35 billion, and the American fintech service provider Fiserv acquired First Data for $ 22 billion. By 2023, the volume of payments worldwide is expected reach $ 3 trillion per year as more and more people are switching from cash to digital payments, the agency said with reference to McKinsey.
source: reuters.com
