29 May 2015
Your browser is unable to support Flash files.

Ingenico acquires Ogone in bid to become one-stop payments shop

29 January 2013  |  6206 views  |  0 Paris - Eiffel tower

Ingenico is to acquire pan-European online payments firm Ogone from Summit Partners for EUR360 million, underpinning its strategy to become a one-stop-shop for multi-channel payments processing on the high street, on the mobile, and online.

Based in Brussels, Ogone has built an international client base of over 42,000 merchants for its e-commerce payments platform. In 2012, with more than 280 employees, Ogone reached €42 million of revenue, with an Ebitda margin of around 30%. A recent white-label contract win with Barclaycard is expected to guarantee revenue growth in excess of 30% in 2013.

Philippe Lazare, chief executive officer of Ingenico, says: "Combining Ogone's 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."

He says the acquisition will have a strong positive impact on both margin and growth profiles, with upsell opportunities expected to generate €20m by 2015.

The secured financing of the acquisition will consist in existing cash for €120 million and in committed bank lines for €240 million. The deal is expected to completed in Q1 2013, subject to talks with unions and approval by regulators.

In February last year, Ingenico took a controlling stake in Roam Data, which offers a Square-alike dongle for processing card payments via mobile phones.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

17 January, 2012
05 January, 2012
04 April, 2011
25 September, 2009

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
CBA to test Ripple for intra-bank transfer...
5176 views comments | 25 tweets | 21 linkedin
Google unveils Android Pay
5055 views comments | 23 tweets | 27 linkedin
Visa Europe opens innovation hub in Israel
4975 views comments | 19 tweets | 9 linkedin
BBVA rolls out 'remote control' card app
4662 views comments | 25 tweets | 26 linkedin
eBay and Village Capital run accelerator f...
4505 views comments | 10 tweets | 4 linkedin

Featured job

Basic £90-110K OTE c. £200K AND NO CEILING
London based with substantial travel in the DACH Region

Find your next job