Ingenico To Acquire Bambora From Nordic Capital For EUR 1.5 Bln - Quick Facts

Ingenico Group (INGIF.PK), a seamless payment company, announced the acquisition of Bambora, a player in payment services, from private equity investor Nordic Capital for a total consideration of 1.5 billion euros. The company also said its half-year results are in line with its 2017 objectives.

The transaction will be fully financed through available cash and debt. The closing of the transaction is expected to occur by the end of 2017.

Headquartered in Stockholm, Bambora employs more than 700 people across Europe, North America and Australia. Bambora delivers in-store, mobile and online services through end-to-end payment solutions for over 110,000 merchants and enterprises globally.

The backbone of Bambora's offers consist of a merchant acquiring platform and a customer centric approach, relying on its expertise of full-service offering and value-added services such as fast digital onboarding or data analytics.

Bambora, whose model generates more than 90 percent recurring revenue, reached a gross revenue of 202 million euros in 2016.

Ingenico noted that the acquisition adds a dedicated direct-to-SMB sales channel to its retail business unit, and also expands its presence in Australia with POS managed services as well as full estate management offering.

The company also said that its half-year results are in line with its 2017 objectives.

Revenues for the half-year period were 1.22 billion euros, up 5 percent on a comparable basis and 8 percent on a reported basis, compared to 1.13 billion euros in the prior-year period.

EBITDA for the period was 244 million euros, representing 20 percent of revenue, and flat with the year-ago period.

Looking ahead, the company maintained its fiscal 2017 outlook for organic growth of 7 percent and EBITDA margin slightly above 20.6 percent.

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