DGAP-News: Wirecard AG to extend its operating business in Malaysia
(firmenpresse) - DGAP-News: Wirecard AG / Key word(s): Acquisition
Wirecard AG to extend its operating business in Malaysia
12.09.2013 / 08:35
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Munich (Aschheim); Wirecard Group is disclosing another M&A transaction in
Asia. With this acquisition, Wirecard will be expanding its operating
business in Malaysia. Wirecard will be also extending its offering of
contactless payment solutions in the East Asian region. Wirecard has agreed
to purchase all shares in three companies of the Korvac Group (founded in
1999). These consist of Singapore based PaymentLink Pte. Ltd., and two
subsidiaries in Malaysia and Singapore.
With more than 24,000 acceptance points, PaymentLink operates one of the
largest payment networks for local contactless payment cards. The company
is also one of the leading domestic acquiring processors and distributes
local prepaid cards. The Malaysian subsidiary is a well-established
provider of POS infrastructure as well as payment and technology services,
mainly for banks and financial service providers.
In total, 63 employees will become part of Wirecard Group, with the
management of the respective businesses staying on as well.
The considerations in connection with this transaction comprise cash
payments (all converted into Euro) in an amount of approx. EUR 26.1 million
and earn out-components of up to approx. EUR 4.8 million, dependent on the
operational profit (EBITDA) of the acquired group in the years 2013 and
2014.
Markus Braun, Wirecard AG's CEO says: 'Entering the Malaysian market,
Wirecard will strengthen its presence in South-East Asia and enhance its
service portfolio, for both international merchants as well as the
important domestic market.'
It is expected that the acquired companies will contribute an EBITDA of
approx. EUR 2.5 million in the fiscal year 2014 and that integration costs
will approximately amount to EUR 0.9 million. The closing of the
transaction can be expected in the next two months.
Contact:
Iris Stöckl
VP Corp.Com./IR
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl(at)wirecard.com
http://www.wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY
End of Corporate News
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Language: English
Company: Wirecard AG
Einsteinring 35
85609 Aschheim b. München
Germany
Phone: +49 (0)89-4424 1400
Fax: +49 (0)89-4424 1500
E-mail: ir(at)wirecard.com
Internet: www.wirecard.com
ISIN: DE0007472060
WKN: 747206Indices: TecDAX, Prime All Share, Technology All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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230104 12.09.2013
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Datum: 12.09.2013 - 08:35 Uhr
Sprache: Deutsch
News-ID 295824
Anzahl Zeichen: 4599
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Kategorie:
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