French payment solution provider Worldline has acquired its compatriot and competitor Ingenico for 7.8 billion euros to form the world's fourth company in the field. The deal is partly paid in shares.
Number 4 in the world
By joining forces, Worldline and Ingenico will, in their own words, become the fourth largest payment service provider in the world, with a combined turnover of more than five billion euros. They are active in fifty countries and employ about 20,000 people. Both have a strong link with Belgium as well: the former manages the Bancontact and Maestro payment systems there, the latter owns the successor of Ogone, which acquired it in 2013 and later gave it its own name.
"The combination of Worldline and Ingenico offers a unique opportunity to create the unquestionable European Champion in payment solutions", DataNews quotes Ingenico chairman Bernard Bourigeaud. "This transaction comes at a time when the sector's consolidation is being accelerated."