Purchasing all shares in Trans Infotech
German provider of electronic payment and risk management services Wirecard has revealed plans to purchase all shares in Trans Infotech, a payment service provider.
The considerations in connection with this transaction comprise cash payments (all converted into EUR) in an amount of almost EUR 21.1m and earn out-components of up to almost EUR 4.4m, dependent on the operational profit (EBITDA) of the acquired group in the years 2013 through 2015. It is expected that the acquired group of companies will reach an EBITDA of almost EUR 2.5m in fiscal 2013.
The transaction is set to be completed in H1 2013. Integration costs will amount to almost EUR 0.75m.
Trans Infotech acts as a technology partner in the area of payment and technology services for banks, transportation businesses and retail companies in Singapore, the Philippines and Myanmar. With more than 60,000 deployed terminals, Trans Infotech plays a key role within the emerging markets of Indochina. GDP 2013 is forecasted to rise by 6%, according to the International Monetary Fund.
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