DGAP-News: Wirecard acquired payment service provider in Dubaid
(firmenpresse) - DGAP-News: Wirecard AG / Key word(s): Acquisition
Wirecard acquired payment service provider in Dubaid
17.02.2011 / 07:45
---------------------------------------------------------------------
Grasbrunn/Munich, February 17, 2011; Effective as at January 13, 2011
Wirecard AG acquired Procard Services FZ LLC, headquartered in Dubai,
United Arab Emirates. The seller, Marwan Kheireddine, established the
company in 2004 together with a number of regional partners. Kheireddine is
the principal shareholder and CEO of the Lebanese Al-Mawarid Bank s.a.l..
The parties agreed not to disclose the purchase price.
Procard Services is specialized in services relating to electronic payment
processing, credit card acceptance and the issuing of debit and credit
cards, and the company has a regional customer portfolio.
This takeover enables Wirecard AG to continue its strategy of intensifying
its expansion by establishing key international locations in growth
regions.
Additional benefits in taking over Procard are the acquisition of both a
regionally entrenched management and a team of staff members specially
experienced in the field of payment processing. By joining forces with
employees of Wirecard AG, this will intensify the company's extension in
regional terms.
Procard Services FZ LLC has a state-of-the-art technical platform at its
disposal. It can be taken for granted that the integration into the
Wirecard platform and the extension of complementary regional
functionalities will generate additional technical synergy effects in the
course of time.
The contribution to earnings generated in fiscal 2011 in the amount of at
least approximately 1.0 million euros will predominantly be used for
integration purposes. For 2012 Wirecard expects that the acquired company
will contribute approximately 1.5 million euros to the EBITDA of the Group.
Contact:
Iris Stöckl
Dir. Investor/ Public Relations
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
---------------------------------------------------------------------
17.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Wirecard AG
Bretonischer Ring 4
85630 Grasbrunn b. München
Deutschland
Phone: +49 (0)89-4424 0400
Fax: +49 (0)89-4424 0500
E-mail: ir(at)wirecard.com
Internet: www.wirecard.com
ISIN: DE0007472060
WKN: 747206
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
112510 17.02.2011
Datum: 17.02.2011 - 07:45 Uhr
Sprache: Deutsch
News-ID 33229
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 192 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Wirecard acquired payment service provider in Dubaid"
steht unter der journalistisch-redaktionellen Verantwortung von
Wirecard AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
