Ingenico to acquire Ogone for EUR 360 mln

The two combined companies are expected to generate additional EBITDA in excess of EUR 20 million by 2015.

The acquisition is expected to be neutral on Ingenico 2013 EPS and 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 to be completed in Q1 2013, in particular after confirmation of non-opposition from the National Bank of Belgium.

Ogone enables more than 35,000 customers to operate internationally in 45 countries using its connections via certified links with over 200 different banks and acquirers. The company is able to handle international payments as well as local payment methods, such as ELV and giropay in Germany, Carte Bleue in France, iDeal and Machtigingen in the Netherlands, Bancontact/Mister Cash in Belgium and local payment methods in India and the Middle East. In 2012, with more than 280 employees, Ogone has reached EUR 42 million of revenue, with an EBITDA margin of around 30 percent.