Ingenico Group has announced it has entered exclusive negotiations regarding the acquisition of GlobalCollect for an enterprise value of EUR820 million.
GlobalCollect, an online full service payment provider has developed a recognized payment expertise, notably in cross-border e-commerce, to enable brands to sell their products online across the globe. During fiscal year 2013, GlobalCollect reported gross revenue of EUR305 million.
“The acquisition of GlobalCollect would enable us to accelerate the implementation of our strategy across all channels, on a global scale, especially in payment services and mobile payment,” said Philippe Lazare, Chief Executive Officer of Ingenico Group. “This is a great opportunity to maintain our time-to-market advantage to rapidly reinforce Ingenico Group’s position as a global leader in seamless payment. As an example, it would be a real game changer in North America where we would provide payment solutions across all sales channels, beyond smart terminals. All in all, combining Ingenico Group and GlobalCollect would create a player with unrivalled geographical coverage, network of acquirers/banks and payment methods. And this would result in substantial value for our employees, customers and shareholders.”
“The planned acquisition by Ingenico Group is a perfect fit with GlobalCollect. Combining our global cross-border payment processing with Ingenico Group’s multi-channel services will create great opportunities for our clients, by reducing payment complexity across all channels and providing more payment alternatives to drive new sale opportunities. This is an exciting time to be in the payment industry and an even more exciting opportunity for GlobalCollect to be part of such a world class organization as Ingenico.” said Tom Staudt, Chief Executive Officer of GlobalCollect.
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Oh, what we wouldn't do to know the future! Like Biff and the Almanac in Back to the Future, all we need is a guide. Luckily the team over at Pivotl is on hand to give us one for the future of fintech.
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