INGENICO GROUP: Acquisition of TechProcess, leading Indian online and mobile payments provider
(Thomson Reuters ONE) -
Press release
Paris, January 30, 2017
Acquisition of TechProcess, leading Indian online and mobile payments provider
Ingenico Group (Euronext: FR0000125346 - ING) announced today it has reached an
agreement in principle to acquire 100% of TechProcess Payment Services Ltd
("TechProcess"), a leading Indian electronic payments services provider from its
current shareholders (major global and Indian investors).
Created in 2000, TechProcess is a leading online and mobile payment services
provider headquartered in Mumbai with approximately 600 employees across 40
locations in India. The company has developed best-in-class offerings in several
markets where it built leading positions, especially in online payments gateway,
NACH (National Automated Clearing House), bill payments, and mobile payments.
These services rely on a strong network of connections with leading Indian banks
for acquiring and net-banking integration.
While 90% of retail purchases are currently paid in cash in India, electronic
payments are expected to increase significantly in the coming years, pushed by
recent government initiatives (demonetization of certain bank notes, launch of
the national BBPS interoperable bill payments ecosystem, etc.).
The acquisition of TechProcess will support the strategy of Ingenico Group in
India, where it is the leader on the terminal market with c.50% market shares
and a player in online payments through EBS, an Ingenico ePayments entity. As a
result, Ingenico Group will further expand its footprint in the country, and,
ultimately, offer cross-border capabilities.
Closing is expected to take place in Q1 2017.
Philippe Lazare, the Chairman and Chief Executive Officer of Ingenico Group,
commented: "Based on its already leading position in terminal market, Ingenico
Group is making, with the acquisition of TechProcess, a major step in India, the
fastest growing country in Asia. The combination of our assets places us in a
unique position to benefit from India's shift towards electronic payment
transactions and to strengthen our leadership in Indian instore and online
payment acceptance."
"We are very excited and looking forward to being part of Ingenico Group. Their
leading position in payment industry will help us accelerate our development and
allow us to lead the offline-online convergence in India." said Kumar Karpe, CEO
of TechProcess
About Ingenico Group
Ingenico Group (Euronext: FR0000125346 - ING) is the global leader in seamless
payment, providing smart, trusted and secure solutions to empower commerce
across all channels, in-store, online and mobile. With the world's largest
payment acceptance network, we deliver secure payment solutions with a local,
national and international scope. We are the trusted world-class partner for
financial institutions and retailers, from small merchants to several of the
world's best known global brands. Our solutions enable merchants to simplify
payment and deliver their brand promise.
Learn more at www.ingenico.com twitter.com/ingenico
Contacts / Ingenico Group
Investors Communication
Caroline Alamy Coba Taillefer
Investor Relations Manager External Communication Manager
caroline.alamy(at)ingenico.com coba.taillefer(at)ingenico.com
(T) / 01 58 01 85 09 (T) / 01 58 01 89 62
PDF VERSION:
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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: INGENICO via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 30.01.2017 - 17:46 Uhr
Sprache: Deutsch
News-ID 520727
Anzahl Zeichen: 4358
contact information:
Town:
Paris
Kategorie:
Business News
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