Clear2Pay buys e-banking outfit Diagram EDI
05 December 2007 | 6426 views | 0
Brussels-based e-payments vendor Clear2Pay has acquired Diagram EDI, a French provider of electronic banking and payments technology. Financial terms of the deal were not disclosed.
Formed in 1986, Diagram has 30 employees with offices in France, Algeria and Egypt. The firm supplies end-to-end Internet banking systems for both retail and corporate banking environments. Clients include BNP Paribas, Societé Generale, BCI, Crédit Agricole, Deutsche Bank, HSBC and Banque Centrale Populaire (BCP).
Under the terms of the deal Diagram will become a wholly-owned and integrated business unit of Clear2Pay.
Michel Akkermans, chairman and CEO, Clear2Pay, says that Diagram's product suite complements the Netbank product that Clear2Pay acquired through its takeover of Belgian banking software house EFT in October 2005.
He adds: "The fact that Diagram is based in France is of equal importance, since we see an increased level of activity in that region and language domain."
The deal comes less than a month after Clear2Pay agreed to buy Integri, a Belgian provider of test tools and services for payments, ticketing and mobile applications.