Bloomberg News

Ingenico to Buy Ogone for $484 Million in E-Payment Push

January 29, 2013

Ingenico SA (ING), a French provider of payment terminals and services, agreed to buy online-payment company Ogone for 360 million euros ($484 million) as part of a push to expand outside Europe.

Acquiring closely held Ogone, which makes software for electronic transactions over the Internet, will boost profit from 2014, Paris-based Ingenico said today in an e-mailed statement. Savings will add 20 million euros in earnings before interest, taxes, depreciation and amortization in 2015, it said.

“We’ll look to make a push outside Europe,” Chief Executive Officer Philippe Lazare said on a conference call. “This year will be dedicated to integrating Ogone. Once that’s done, we’ll ask ourselves what geographies we can expand our business to.”

The deal will add Ogone’s operations in countries including India, Germany and the U.S. Customers of the company, which focuses on facilitating Web transactions and preventing fraud, include Kraft Foods Group Inc. (KRFT:US), Ikea and Japan Airlines Co., according to the company’s website.

Ingenico shares rose as much as 2.2 percent to 46.93 euros and advanced 1.2 percent at 9:27 a.m. in Paris. The stock jumped 47 percent in the 12 months through yesterday, giving the company a market value of 2.4 billion euros.

Ingenico, which competes with VeriFone Systems Inc. (PAY:US), said it plans to finance the deal using 120 million euros in cash and 240 million euros in loans.

Ogone, based in Brussels and owned by investment fund Summit Partners LP, had revenue of 42 million euros last year and an Ebitda margin of 30 percent, Ingenico said.

To contact the reporters on this story: Marie Mawad in Paris at mmawad1@bloomberg.net; Cornelius Rahn in Berlin at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


Steve Ballmer, Power Forward
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • KRFT
    (Kraft Foods Group Inc)
    • $55.88 USD
    • 0.89
    • 1.59%
  • PAY
    (VeriFone Systems Inc)
    • $31.86 USD
    • 0.10
    • 0.31%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus