Ingenico and Moneyline to merge
30 June 2006 | 7141 views | 0
French eftpos vendors Ingenico and Moneyline have signed an agreement to merge their respective operations.
Under terms of the agreement, a proposed exchange ratio of 2.08 Ingenico shares for one Moneyline share will be instituted. This represents a 22.85% premium for Moneyline shareholders on the basis of the average closing price over the last 20 trading days.
The merger will see Moneyline's Axis C3 electronic payment software package combined with Ingenico's payment terminals.
In 2005, Ingenico reported revenue of EUR436.9 million and operating profit of EUR8.2 million, while Moneyline posted revenue of EUR26.8 million and operating profit of EUR3.5 million.
The deal is expected to be completed in the fourth quarter of 2006.