Ingenico announces an agreement for the acquisition of Ogone

Strategic acquisition

Ingenico has announced it has reached an agreement in principle with Summit Partners to acquire Ogone, the pan-European online payment services provider for an enterprise value of EUR360m.

This acquisition represents a key milestone in the execution of Ingenico’s strategy of becoming the provider covering multi-channel payment solutions: point-of-sale, online and mobile.

The secured financing of the acquisition will consist in existing cash for € 120 million and in committed bank lines for € 240 million.

Philippe Lazare, Chief Executive Officer of Ingenico said: “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. “

Peter De Caluwe, Chief Executive Officer of Ogone, said: “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. “

Related reading

Leave a comment