Paris-based global payment provider Ingenico has reached an agreement with Summit Partners to acquire pan-European online payment services provider Ogone, for an enterprise value of €360m.
The transaction, which includes €120m in cash and €240m of committed bank lines, is likely to complete during the first quarter of 2013, following confirmation from the National Bank of Belgium.
The acquisition will further strengthen 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 integrated 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.