|By Marketwired .||
|January 29, 2013 01:20 AM EST||
PARIS -- (Marketwire) -- 01/29/13 --
Ingenico announces an agreement for the acquisition of Ogone, leading pan-European online payment services provider A key milestone in the execution of Ingenico strategy: Providing unrivalled offering of multi-channel payment solutions to address increasing merchant needs
Ingenico, (Euronext: FR0000125346 - ING), leading worldwide provider of payment solutions, today announced it has reached an agreement in principle with Summit Partners to acquire Ogone, the leading pan-European online payment services provider for an enterprise value of EUR 360 million.
This acquisition represents a key milestone in the execution of Ingenico's strategy of becoming the unique "one-stop-shop" provider covering multi-channel payment solutions: point-of-sale, online and mobile. The combination of Ingenico's customer base and infrastructure with Ogone's platform would offer an unrivalled ability to generate significant synergies in terms of new upselling opportunities and offer optimization expected to generate additional EBITDA in excess of EUR20m by 2015. With this acquisition, Ingenico would also further reinforce its presence in Transactions while leveraging the attractive exposure to the online transactions growth.
Based in Brussels, Ogone has developed, over the past ten years, a recognized expertise in making online payment services less complex, more efficient and secured for merchants. Thanks to its scalable, in-house and robust platform and its experienced management team, Ogone has built a prime, truly international client base with over 42,000 merchants, highly diversified in terms of sizes, segments or distribution channels. In 2012, with more than 280 employees, Ogone reached EUR 42 million of revenue, with an EBITDA margin of around 30%. The recent commercial initiatives, including the Barclaycard white-label contract win, should generate a revenue growth in excess of 30% in 2013.
The acquisition of Ogone offers a sound financial rationale, with a strong positive impact on both margin and growth profiles, while maintaining leverage under control. The acquisition is expected to be neutral on Ingenico 2013 EPS and highly accretive on 2014 EPS before PPA. The secured financing of the acquisition will consist in existing cash for EUR 120 million and in committed bank lines for EUR 240 million.
The consultation of Ingenico SA workers' council has been initiated. The final documentation and closing are expected in Q1 2013, in particular after confirmation of non-opposition from the National Bank of Belgium.
The acquisition of Ogone is a key milestone in the execution of the Group strategy offering unique synergies with Ingenico entities, notably easycash and ROAM", said Philippe Lazare, Chief Executive Officer of Ingenico. "Combining Ogone leading position in the online space with our unique position in the point-of-sale and mobile space will enable us to address multi-channel global payment solutions for both merchants and acquirers, first in Europe and then in high potential geographies. I am very proud of this acquisition that will benefit our employees, customers and shareholders. We look forward to working together. "
I'm very proud of today's announcement. I see both a strong strategic and cultural fit between Ingenico and Ogone", said Peter De Caluwe, Chief Executive Officer of Ogone. "This will help us accelerate our strategic focus on expanding globally while further investing in product innovation. Our fraud prevention tools and financial services perfectly complement Ingenico's portfolio and will leverage their multi-channel strategy. This is exciting news for our customers, partners, banks and our employees and I look forward to bringing my strong e-commerce expertise to Ingenico management board. "
It has been a pleasure to work with Ogone's exceptional management team", said Christian Strain, Managing Director of Summit Partners. "Our investment in Ogone exemplifies what Summit does best - partnering with excellent management teams to help them extend their market leadership."
A conference call to discuss details of the transaction will be held on January 29, 2013 at 9.30a.m. (Paris time). Dial in number: +33 (0)1 7099 3212 (French domestic) or +44 (0)207 1620 177 (international).
This document includes forward looking statements relating to Ingenico's future prospects, development and business strategies. By their nature, forward looking statements involve risks and uncertainties and are not guarantees of future performance. Ingenico's financial condition and results of operations and the development of the industry in which Ingenico operates may differ materially from those made in or suggested by the forward looking statements contained in this document. In addition, even if Ingenico's financial condition and results of operations and the development of the industry in which Ingenico operates are consistent with the forward looking statements contained in this document, those results or developments may not be indicative of results or developments in future periods. Ingenico does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward looking statements to reflect events that occur or circumstances that arise after the date of this document. In addition, the occurrence of certain of the risks described in the "Risk Factors" sections of the French language Document de Référence 2011 filed with the Autorité des marchés financiers (the "AMF") on March 29 2012 under number D.12-0240 may have an impact on these forward looking statements.
About Ingenico (Euronext: FR0000125346 - ING)
Ingenico is a leading provider of payment solutions, with over 20 million terminals deployed in more than 125 countries. Its 4,000 employees worldwide support retailers, banks and service providers to optimize and secure their electronic payments solutions, develop their offer of services and increase their point of sales revenue. More information on www.ingenico.com | twitter.com/Ingenico. |
Ogone is a leading payment service provider with global reach. Tens of thousands of online businesses worldwide trust Ogone to manage, secure and collect their online and mobile payments, help prevent fraud and drive their business. Ogone's scalable solution allows their customers to increase their checkout conversion and help them enhance sales, both domestic and cross-border. More information about Ogone Payment Services (www.ogone.com)
About Summit Partners
Summit Partners is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised nearly $15 billion in capital and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 365 companies globally in technology, healthcare and other growth industries. Summit's notable investments in the e-commerce and financial services sector include 360T Group, AVAST Software, FleetCor Technologies, iPayment, vente-privee.com and Web Reservations International. More information on Summit Partners (www.summitpartners.com).
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: INGENICO via Thomson Reuters ONE
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
Oct. 28, 2016 12:45 AM EDT Reads: 4,252
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Oct. 28, 2016 12:45 AM EDT Reads: 1,509
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at @DevOpsSummit at 19th Cloud Expo, Charles Kendrick, CTO at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and deve...
Oct. 28, 2016 12:15 AM EDT Reads: 1,588
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, will provide economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session will also include a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
Oct. 28, 2016 12:00 AM EDT Reads: 2,164
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
Oct. 28, 2016 12:00 AM EDT Reads: 627
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Oct. 28, 2016 12:00 AM EDT Reads: 1,451
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Oct. 27, 2016 10:30 PM EDT Reads: 3,835
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
Oct. 27, 2016 10:30 PM EDT Reads: 3,083
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
Oct. 27, 2016 10:30 PM EDT Reads: 542
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Oct. 27, 2016 10:30 PM EDT Reads: 9,800
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 27, 2016 10:15 PM EDT Reads: 1,163
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
Oct. 27, 2016 10:15 PM EDT Reads: 677
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 27, 2016 10:00 PM EDT Reads: 2,910
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Oct. 27, 2016 10:00 PM EDT Reads: 2,113
OnProcess Technology has announced it will be a featured speaker at @ThingsExpo, taking place November 1 - 3, 2016, in Santa Clara, California. Dan Gettens, OnProcess’ Chief Analytics Officer, will discuss how Internet of Things (IoT) data can be leveraged to predict product failures, improve uptime and slash costly inventory stock. @ThingsExpo is an annual gathering of IoT and cloud developers, practitioners and thought-leaders who exchange ideas and insights on topics ranging from Big Data in...
Oct. 27, 2016 09:45 PM EDT Reads: 541