Paris-based global payment provider Ingenico has completed the acquisition of pan-European online payment services provider Ogone from Summit Partners, for an enterprise value of €360m.
The transaction that includes €120m in cash and €240m of committed bank lines, was executed following no-objection from the National Bank of Belgium.
Commenting on the acquisition, Ingenico chief executive officer Philippe Lazare said, "The acquisition of Ogone is a key milestone in the execution of Group strategy offering unique synergies with Ingenico entities, notably easycash and ROAM."
The completion of the deal originally signed in January 2013, will further boost Ingenico’s strategy of becoming the provider of multi-channel payment solutions including point-of-sale, online and mobile for both merchants and acquirers, in Europe and in high potential geographies.
It is expected that the combined Ingenico’s customer base and infrastructure with Ogone’s platform would be able to generate additional EBITDA of more than €20m by 2015.
Brussels-based Ogone operates scalable, in-house and robust online payment platform and serves more than 42,000 merchants of various sizes, segments or distribution channels.
Operating more than 17 million terminals in more than 125 countries globally, the company has employee strength of 4,000, and offers payment systems to retailers, banks and service providers.