Worldline to purchase rival Ingenico in $8.6B deal
02/10/2020|4:23:12 PM|Pymnts

Two European payments behemoths — Worldline and Ingenico — are merging in an $8.6 billion deal to create the industry’s fourth-largest company in the space, according to numerous reports on Monday (Feb. 3).

France’s Worldline is purchasing rival Ingenico in a deal encompassing 81 percent stock and 19 percent cash. The transaction gives Ingenico an implied equity value of 7.8 billion euros ($8.6 billion).

In the biggest deal so far in 2020, the combined firm creates the fourth-largest payments firm in the world, with projected 2019 net revenues of €5.3 billion. 

Worldline Chief Executive Officer Gilles Grapinet will head the new firm as CEO. Ingenico Chairman Bernard Bourigeaud is anticipated to be named a non-executive chairman.

The deal is anticipated to close in the third quarter of 2020, with Grapinet saying it is a “landmark transaction for the industrial consolidation of European payments.”

Read Original Article