BBS enters Swedish terminal market with Ingenico acquisition

BBS enters Swedish terminal market with Ingenico acquisition

Bank-owned Norwegian payments processor BBS is acquiring the Swedish business of eftpos manufacturer Ingenico. Financial terms of the deal were not disclosed.

BBS has acquired 100% of the shares in Ingenico AB, which it says is the second biggest operator in the Swedish eftpos terminal market.

The Oslo-based firm says the purchase of the Ingenico unit means it now has a 35% market share in the joint Norwegian-Swedish eftpos market.

BBS says it will be able to offer firms in Sweden a range of products - including terminals, software and payment services - so they can deal with one Nordic operator rather than several national suppliers.

Erik Tomren, EVP, card services, BBS, comments: "We want proximity to the customer and we want to deliver solutions that contribute to optimisation of the customers’ business processes. There are no better way to reach this goal and to identify our customers wants and needs than through local presence."

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